Cornish seafood supplier Falfish has been acquired by supermarket giant Morrisons.
Falfish operates from two sites in Redruth and Falmouth docks and is owned by founder Ian Greet and his son Mark who is the managing director.
It has long-term relationships with the owners and skippers of over 70 partner boats in the south west who land their total catch direct to Falfish.
The company has supplied fresh fish and shellfish to Morrisons for more than 16 years and about 50% of its circa £40 million turnover is with the retailer. Mark Greet and all 140 Falfish staff will join Morrisons.
Greet said: “Falfish has been a supplier to Morrisons since 2004 and over the years this has become a very strong partnership. For my father Ian and our family, as part of the Cornish community, this acquisition ensures the continuing ethos of Falfish in upholding our relationships and values, and strengthens this for our colleagues, for the south west fishing fleet, and for all of our customers and stakeholders.
“The acquisition is great news for Falfish’s Cornish operations and the wider community, bringing investment and access to many new opportunities.”
George Eustice, MP for Camborne, Redruth and Hayle, welcomed the announcement.
“Falfish, based here in Redruth, is renowned across the UK as a trusted supplier of high-quality and sustainably sourced seafood,” he said.
“The announcement by Morrison’s that it has acquired Falfish is a real vote of confidence in the Cornish fishing fleet. It is good news for jobs in our local area, and I am pleased to see that Mark Greet and all of his colleagues will be joining Morrison’s. I wish them well in the months and years ahead.”
Murrell Associates advised the shareholders on the sale, with a team led by Hugh Murrell and Nikki Reid.