New Five Star owner plans to expand 'fantastic' business and grow jobs

Published: 07 April, 2010

HE new owner of Five Star Fish said last night that one of his first priorities will be expand the business and protect jobs.

Ranjit Singh Boparan who, at 43, is one of Britain's most successful food entrepreneurs and who made his fortune in polutry, surprised the fish industry yesterday when it was announced that he had become the successful bidder for the Grimsby based seafood processor, which has a workforce of around 320 people.

He said: "We are absolutely delighted to have bought this fantastic business. It's a brilliant innovative company with a terrific team of people who have skilfully guided the business to its present heights, and we are going to do everything we can to help them continue to build and expand on that success." He added that it was well placed to capitalise on the growing seafood market in the UK, now totalling over £4 billion a year.

He already owns a number of businesses in the food sector and is responsible for over 6,000 people worldwide, although not all are directly employed by him.

Mr Boparan is certainly well placed to grow Five Star Fish, which had recently completed a £6-million expansion programme before its former parent company, British Seafood, was plunged into administration. In January he bought the 36-strong Harry Ramsden fish restaurant chain and he said he wants to add around 100 new outlets over the next few years as well as take the brand overseas.. There is little doubt that Five Star will be supplying much of the fish to those restaurants.

Five Star is thought to have doubled its turnover to £65 million in the past three years which is the main reason why it attracted so many bidders including, it is thought, one German company along with at least one existing processor on the Humber. It supplies fish to hundreds of pubs and restaurants in the UK and to supermarkets like Iceland.

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