INTRAFISH 150

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IntraFish 150: Young's Seafood

 

Young's
 

Young's Seafood/Findus UK

Sales 2015: $847.6 million

Sales 2014: $886.1 million

Sales 2013: $866.9 million

Key Executives: Bill Showalter, CEO of Young’s Seafood International Holdings

Floor 7, 350 Euston Road
London NW1 3AX, UK
Phone:  +44 (0) 207 554 2600     
www.youngsseafood.co.uk

Employees: 3,700

Company Type: Private

Owners/Key investors: Lion Capital (Findus UK)

With Nomad Foods taking Findus' continental business, Findus UK is now back to basics with the Young's Seafood brand.

Findus Group was divided into two parts following an acquisition by Iglo Group owner Nomad Foods in mid-2015. The continental portion of the group was merged into Nomad's operations, while the UK division is operated separately.

Young’s Seafood saw its operating profit increase 6 percent to £26.7 million (€34.2 million/$38.5 million) for the 12 months ending September 2015, compared with £25.2 million (€32.3 million/$36.3 million) in 2014.

EBITDA rose to £37.4 million (€47.9 million/$53.9 million) for the period, versus £36.5 million (€46.7 million/$52.6 million) in 2014, an increase of 2 percent.

Turnover, however, shrank slightly to £587.9 million (€752.6 million/$847.6 million), down 1.3 percent from £595.6 million (€762.4 million/$858.7 million) a year earlier.

In July 2016, Pete Ward stepped down from his role as CEO at the company, with Bill Showalter, CEO of the parent company Young’s Seafood International Holdings, assuming Ward's responsibilities.