Comment posted Loch Fyne Oysters sold to Scottish Seafood Investments by Tarbert Saxon.
I fail to see how this is good news. A locally owned, locally managed, local employer taken over by a company owned by a Scandinavian company that has had more name changes than Windscale and a private equity company. Low wages and profits evacuated from A+B I predict!
Recent comments by Tarbert Saxon
- £6million for next generation community buy outs – ‘Britain’s new radicals’
Does this mean that Tarbert might be able to raise fund to buy our filling station? Maybe too late as it being sold by auction shortly
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I fail to see how this is good news. A locally owned, locally managed, local employer taken over by a company owned by a Scandinavian company that has had more name changes than Windscale and a private equity company. Low wages and profits evacuated from A+B I predict!
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Tarbert Saxon, I made the mistake last year of describing Scottish Salmon Company Limited as Norwegian owned and they complained to newsroom. It seems they are incorporated in Jersey, quoted on the Norwegian Stock Exchange and have their head office in Edinburgh.
Being a quoted company the shareholders presumably come from all over.
They appear to have two executive directors, Robert M Brown III, ex- Lehman Brothers managing director and resident in Moscow, who is involved with Kazakhstan and Russian Investments and Vlacheslav Laventyev, who has a long involvement with Russian fish farms.
The company’s most recent published accounts can be viewed here:- http://hugin.info/143286/R/1567482/486959.pdf
There are no doubt good reasons for the sale but I find the decision rather sad, as successful employee-owned businesses add a lot to their communities.
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Ex Lehman Brothers managing director and resident in Moscow? – let’s hope the Russia connections don’t end in a shark’s dinner.
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Tarbert Saxon and Ewan Kennedy your anti-fishfarm bias is astounding in your comments.
Surely this investment secures the future of Loch Fyne Oysters, which can only be good for the employees.
Having read other reports on this, is it not the fact that in return for investment Scottish Seafood Investments have aquired 100% of the equity in Loch Fyne Oysters with full agreement of employees.
Scottish Seafood Investments through Associated Seafoods have been active in the Seafood Market recently aquiring Lossie Seafoods of Lossiemouth and Moray Seafoods of Buckie and investing significant funds into the business’s.
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A little more information on Mr Brown the third here.. http://investing.businessweek.com/research/stocks/private/person.asp?personId=538490&privcapId=36634183&previousCapId=36634183&previousTitle=Storm%20Properties
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Never be fooled into believing the line much peddled by British politicians since the days of Mrs Thatcher that: “it doesn’t matter who owns the company providing they are providing employment”. This is never sustainable long-term. Owners who are not committed to a country/region will always find it much easier to dump an investment than ones who are. It is very clear from Ewan Kennedy’s outline of this company’s background that its commitment to Argyll is tenuous at best.
I suspect that 5-10 years down the line the former employee-owners of this business will realise they have made a big mistake. I do hope that I am wrong!
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