Grimsby seafood giant New England Seafood International (NESI) acquired an adjacent facility on the town's Europarc site in a move to "safeguard future growth," reports Business Live.
The purchase of the facility underlines NESI's confidence in Grimsby, CEO Dan Aherne said.
"This is a long-term play that will enable us to continue to grow and invest in Grimsby," Aherne told Business Live.
The eventual addition will double existing factory space.
"Now we have the land in the bank, we can demonstrate our success and in 10 or 20 years know we have the space for what we are doing," said Aherne. "It is a long-term vote for Grimsby."
Despite the “challenging trading environment” caused by the COVID-19 pandemic and Brexit, NESI's recent financial performance was strong, the company said.
The group, acquired last year by Alaska Native Corporation Sealaska, posted a pre-tax profit for the 14-month period to Dec. 31 of £4.5 million (€5.3 million/$3.9 million).
The acquisitions will help strengthen NESI's supply network, the company said.