| Johnson
Seafarms are delighted to announce the completion of their management
buyout with investment of over £21 million from City based
Private Equity Group, European Acquisition Capital Limited. The
deal enables the company to secure future prospects for all staff
at its Shetland base, to hire more staff and to finance its longer-term
expansion. The management team is headed by Karol Rzepkowski and
Laurent Viguie who have both been closely involved in the company’s
pioneering move into farmed cod. The management team also includes
other key staff at Johnson Seafarms, both at sea sites and offices.
Johnson Seafarms
have achieved a first in raising cod on a commercial scale, with
a strong focus on organic standards, sustainability, the environment
and fish welfare. The company’s pioneering strategy aims
to make all Johnson Seafarms produce organic, with cod and mussels
obtaining accreditation in 2005 and sea trout in 2006.
Managing director
Karol Rzepkowski said today: “This is an exciting opportunity
for Johnson Seafarms and for Shetland. Our management buyout confirms
the City’s confidence in the future of aquaculture in Shetland
and this investment will enable us to expand at home and increase
promotion abroad. We believe that our organic farmed cod, in particular,
will play a key role in helping develop and communicate the wider
Shetland brand as a symbol of excellence.”
The company’s
expansion plans are designed to triple output over the next five
years, backed by an active employment strategy. For Johnson Seafarms
and its staff and for the wider Shetland economy this announcement
opens a new and exciting chapter.
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