UK retailer Morrisons has acquired Cornish-based seafood processor and wholesaler Falfish, it announced March 1.
The family-owned Falfish has been a supplier of fresh fish and shellfish to Morrisons for more than 16 years, and approximately 50 percent of its £40 million (€46.3 million/$55.8 million) turnover is with the retailer.
Following the deal, more than 80 percent of the supermarket's fish and shellfish will now come from Morrisons wholly-owned seafood operations.
Falfish operates from two sites in Redruth and Falmouth on the south Cornish coast and is owned by the founder Ian Greet and his son Mark Greet, who is the Managing Director.
Mark Greet and all of the 140 Falfish employees will now join Morrisons.
Falfish has long-term relationships with the owners and skippers of more than 70 partner boats in the South West who land their total catch direct to Falfish.
The business also buys direct from the three key South West fish markets in Newlyn, Plymouth and Brixham.
In addition, Falfish also owns a 30ft trawler, the Jacqui A, which means that Morrisons will become the first British supermarket ever to own a fishing boat.
"Falfish is a great fit with Morrisons; not only is it a great British company supplying high quality fish and shellfish, but they also share our passion for sustainability and for local sourcing," said Andrew Thornber, manufacturing director at Morrisons.
Morrisons' manufacturing operations employ around 9,000 people at 19 sites throughout Britain, providing around 25 percent of everything that Morrisons sells.
"The acquisition of Falfish means that over 80 percent of our fish and shellfish will now come from our own operations," said Thornber.
Falfish has been a supplier to Morrisons since 2004, and processes a range of 56 wild and farmed frozen and fresh seafood from British waters and the South West coastline.
"The acquisition is great news for Falfish’s Cornish operations and the wider community, bringing investment and access to many new opportunities," said Mark Greet, Falfish’s Managing Director.
Falfish's fish range includes turbot, sea bass, monkfish, Dover sole and hake and its shellfish range includes lobster, king scallops, crab, cuttlefish and whelks.
Alongside Morrisons, Falfish’s customers include the UK restaurant trade and importers in Europe and the Far East.
The acquisition will mean further improvements to the range, quality and availability of fresh fish and shellfish at Morrisons' Market Street counters and represents another significant investment in fresh food and food manufacturing when others are retreating from counters, added Morrisons.
