Andrew Jackson Solicitors advises on acquisition of historic ocean fish group by Fortuna Ltd

Andrew Jackson Solicitors LLP announces that it has advised Falkland Islands-based fishing business Fortuna Ltd on its acquisition of Ocean Fish Group, a long-established fishing and processing business whose heritage dates back to 1740.

Ocean Fish is one of Cornwall’s oldest fishing and seafood processing groups, supplying UK and European wholesale, retail and, more recently, food service customers.

Fortuna, the largest fishing company in the British Overseas Territories, is taking its first steps into the UK market. Through its subsidiaries and shareholdings, the company is the Falklands’ largest quota and licence holder for Loligo and Ilex squid, finfish and Patagonian Toothfish, and has also recently secured exclusive rights to fish for lobster in the Tristan da Cunha archipelago from 2027.

A multi-disciplinary team from Andrew Jackson Solicitors LLP – including corporate partner, Martin Frost, and Gavin Farquhar, a partner in the shipping & transport practice – provided legal advice to Fortuna on its acquisition, which will support the expansion and development of Ocean Fish as it pursues ambitious growth plans.

Commenting on the transaction, Martin Frost said: – “This acquisition represents an important strategic step for Fortuna as it enters the UK fishing sector and builds on its long-standing position as a major operator in the Falkland Islands. Ocean Fish is a well-established business with a strong commercial platform and an impressive heritage. We wish both businesses every success as they move forward together.”

Gavin Farquhar added: – “Ocean Fish has built an impressive supply chain with deep roots in the UK fishing industry. The combination with Fortuna creates exciting opportunities for both businesses, particularly in relation to international operations, new species access and market expansion.

“Having worked with James and the Fortuna team for many years, we were particularly delighted to support them on this significant transaction.”

James Wallace, managing director at Fortuna Ltd, said: – “We are grateful for the expertise and support provided by the team at Andrew Jackson Solicitors throughout this transaction. The team’s deep sector experience and commercial approach were instrumental in helping us bring the acquisition to completion. We look forward to building on Ocean Fish’s strong foundations and heritage, and working with the team to deliver long-term growth.”