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Young’s acquires neighboring Grimsby plant for £1.5 million

Acquisition comes less than a month after Young’s lost a contract to supply the UK’s third-largest supermarket, Asda.

Young’s Seafood has successfully acquired XPO Logistics’ former Grimsby site, which had been placed on the market for £1.5 million (€1.7 million/$2 million), reports Food Manufacture.

The 13.5-acre site on Ladysmith Road is adjacent to Young’s Seafood’s current headquarters and consists of six buildings, including an office block and cold stores.

Originally bought by XPO in 2015 for £2.3 million (€2.6 million/$3 million), the site has been vacant since May 2017, having closed with the loss of 60 jobs.

Duncan Willey, chartered surveyor with commercial property agency PPH Commercial, who completed the deal, said the deal showed the fish processor’s continued commitment to Grimsby.

The acquisition comes less than a month after Young’s lost a contract to supply the UK’s third-largest supermarket, Asda, with whitefish and shrimp, as it continues to find a buyer for the business.

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