Young’s Bluecrest Seafood’s £15m investment programme is probably the biggest single tranche of investment ever undertaken in the seafood processing industry in this country and will take the Uk seafood sector leader to a turnover of £400m this year.
The investment over the next 12 months will help YBS unlock further potential within the business, capitalising on the opportunities of a UK market for seafood now worth £1.7bn and growing at 8% a year.
Consumption of fish among British consumers is increasing twice as fast as that of any other protein - at 12% over three years compared with 6% for chicken.
The company will be concentrating resources on its Humber and Scottish production centres, injecting £15m of new money over the next 12 months into improving efficiency, developing production volume and upgrading technical capabilities in its six Grimsby and Hull factories.