Grimsby, UK-based Young's Seafood rolled out a new line of fish fillet strips to attract the new flood of consumers that have entered the frozen-foods category since the start of the global pandemic.
The new line includes smaller basa -- the trade name for pangasius -- fillet strips aimed at offering more flexible use of the product. The line includes three different flavors, southern fried, crispy battered, and salt and vinegar, in 450-gram bags.
The frozen category grew 15 percent in the last 52 weeks to over £955 million (€1.1 billion/$1.3 billion) in sales value, while Young's exceeded £200 million (€233 million/$278 million) in total brand sales in January 2021.
Pangasius has been waiting for something to give it a jump start in the UK market, and thanks to Young's embrace of the fish as a raw material in the line it launched in 2019, the species is finally gaining traction.
In addition to Young's long-standing partnership with Vietnamese seafood giant Vinh Hoan, the company also teamed up with Vietnam's Godaco Seafood in July 2018 to process and supply finished pangasius products from its Vietnamese plant.
Eight Fifty Food Group, the owner of Young's, itself controlled by CapVest Partners, acquired Hamburg-headquartered AliSa International GmbH, trading as Greenland Seafood.
The business gives Eight Fifty a significant platform in mainland Europe, complementing the group’s existing UK seafood division, led by Young’s.
- 'They want and need our fish': Frozen-at-sea cod sales 'swift' as UK retail, chip shops thrive
- COVID-19 has sharpened one critical seafood consumer trend more than others
- Explosive frozen seafood sales send shares of German firm Frosta up 50%
- UK retailer Morrisons sees Falfish acquisition as 'a natural next step'