Wholesale and retail supplier Ocean Fish Group has been acquired by Fortuna for an undisclosed amount in a deal that will combine the two major companies in the UK’s fishing industry.

The move is set to support the development and expansion of the Cornish fishing group with the combined network of the two businesses.

Ocean Fish Group is currently the largest import and export group for fish, which is a major supplier for UK-based and European retail and wholesale.

The acquisition will strengthen Ocean Fish UK’s operations and expand its global reach through the partnership with Fortuna Group. The business plans to use Ocean Fish’s consolidated supply chain and operations across its marketing, communications, retail, and wholesale channels.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

Leigh Genge, chief executive of the UK Group, said: “This new partnership is the joining of two like-minded businesses with strong cultural and commercial alignment. The access to wider Group support as we set about delivering a turnover of £100m by 2030 was a compelling factor for me in this consolidation.

“Our unique and vertically integrated supply chain just became much stronger with access to new global markets, product synergies and a new species in the UK. I would like to thank James Wallace, the Fortuna Group Managing Director, and the wider Fortuna Board who believed in and shared my ambitions for the Group.

“I think we can all be exceptionally proud of the success we have achieved with Ocean Fish, and I know that The Lakeman family heritage is in safe hands.”