Fish supplier nets £2.8m financing deal with Barclays to fund more growth

September 12, 2014
By

Fish wholesaler and distributor Unique Seafood, which operates a unit in Cricklade, is looking for further growth after securing a finance package of £2.8m from Barclays.

Since its launch in 1997, the London-based firm has expanded to become one of the UK’s main players in the seafood industry, supplying the wholesale, industrial and food service sectors.

It also provides more than 2,500 fish and chip shops and restaurants across Britain with cod, haddock and other fish caught from its own vessels.

It now employs 62 people and has an annual turnover of £25m. The Barclays finance package, which includes a structured trade loan, will allow it to increase its seafood purchases and grow sales. 

It is also planning to buy another depot to expand its main operation in Thamesmead, South East London, to supply more exotic fish to customers. As well as the staples of mackerel, haddock and herring, it already sells more unusual fish including yellow croaker, tilapia and catfish.

Unique Seafood founder and managing director Harald Nissen said: “The Barclays finance package will enable us to increase capacity, have more storage space and increase customer services. We look forward to working with Barclays as we embark on the next stage of our journey.”  

Sarah Collins, a relationship director in Barclays’ retail & wholesale team, added: “Unique Seafood has carved a niche for itself in this competitive market and is enjoying strong growth. We are fully committed to supporting the business as it looks to diversify and expand into new markets.”

In addition, Unique Seafood, which also operates a depot near Cambridge, has moved its day-to-day banking to Barclays including cash collection, payments and foreign exchange.

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