Young's Seafood sold to CapVest private equity firm

Young's products include frozen fish fillets, fish fingers, scampi and fish pies

Young's Seafood has been sold to international private equity firm CapVest for an undisclosed fee.

Young's, which employs about 1,700 people in Grimsby, North East Lincolnshire, was put up for sale in April.

CapVest already owns pork processing company Karro and plans to operate them both as separate businesses within an enlarged group.

Karro and Young's has a combined team of 5,000 people, the group said.

A spokesperson said it would "continue to focus on providing great food to customers across pork and seafood".

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Di Walker, the group's chief executive officer, said: "Today's agreement will provide both businesses with the opportunity to further develop and broaden our relationships with our key partners."

Young's, which was founded in 1805, has been based in Grimsby for more than 50 years.

The seafood company also runs smaller sites in Scotland. with about 550 staff.

Karro, which produces bacon, gammon, frozen sausages, fresh pork and cooked meats, is headquartered in Malton, North Yorkshire.