Young's Seafood owners put business up for sale
The announcement came from its parent comp...
Young’s Seafood, one of the UK’s leading fish suppliers, has announced that it has been put up for sale.
The announcement came from its parent company Lion Capital which is owned by private equity firms HPS Investment Partners (UK), Bain Capital Credit and Lion Capital.
The UK-based firm accounts for around 40% of all the fish eaten in the UK every year and has a workforce of around 1,500 people.
Speculation about the fish supplier’s future has been mounting for months with many predicting that the sale will attract interest from both home and abroad.
- Hilton Food Group acquires Seachill in £80.8mn deal
- Yo! Sushi eyes North American expansion with £59mn takeover of Bento Sushi
- AgriMarine: Canada’s aquaculture technology innovator
Japan’s Mitsubishi Corporation - owner of canned food producer Princes - is rumoured to be plotting a bid, according to The Telegraph.
A spokesperson for Young’s Seafood said: ‘We have sent out notification that we intend to start a structured and open bidding process with all interested parties for the sale of the Young’s Seafood group.”
‘Young’s Seafood is the UK’s leading seafood supplier, with a 200-year heritage and a turnover of over £500 million. We aim to inspire people to love fish now and for generations to come.”
In recent weeks Young's Seafood has also announced that it is considering closing its Scottish seafood plant in Annan to move production to Grimsby,
IHOP becomes IHOb, and the 'b' stands for burgers
The news of the rebrand was r...
IHOP Restaurants has rebranded, and will now be known IHOb, with the ‘b’ standing for burgers, the company has said.
The news of the rebrand was revealed next week, with speculation about what the ‘b’ may stand for, with guesses ranging from brunch to bananas.
In a release, IHOb said that change in fact celebrates the debut of the brand’s new Ultimate Steakburgers, a line-up of seven mouth-watering, all-natural burgers.
To show the brand is as serious about burgers as it is about its world-famous pancakes, it’s flipped the “p” to a “b” in their iconic name for the time being, including its Twitter handle.
A flagship IHOb restaurant in Hollywood, CA, has also been completely “re-burgered”, and will offer all of the company’s new range of burgers, with its Ultimate Stakeburgers to come in seven varieties.
“Burgers are a quintessential, American menu item so it makes perfect sense that IHOP, one of the most iconic, all-American comfort-food brands in the world, would go over the top to create a delicious line-up of quality burgers that hit the spot any time of day,” said Chef Nevielle Panthaky, Head of Culinary at IHOb.
“Our new Ultimate Steakburgers are made with all-natural, 100% USDA Choice, Black Angus ground beef that is smashed on the grill to create a sear that locks in the juices and flavour.