FPI selling European subsidiary

The Fish Site
by The Fish Site
4 May 2007, at 1:00am

CANADA - Nova Scotia-based FPI Ltd. is negotiating the sale of its UK-based subsidiary, The Seafood Co., with a European company.

The St. John’s company bought The Seafood Co. for $41.3 million in September 2005. The enterprise buys, processes and distributes chilled and frozen shellfish for the British retail market, and has offices in West Sussex and frozen seafood production and storage facilities in Norfolk.

These discussions involve different assets and are separate from the ongoing negotiations FPI is having with High Liner Foods and Ocean Choice International.

FPI said it will only release further details once a definitive agreement is reached.

Source: TheChronicleHerald