In a significant move for the UK fishing industry, Cornwall's oldest fishing operation has been purchased by a Falkland Islands-based firm. The historic Ocean Fish Group, a family-run fishing and processing business headquartered in Roche, has been acquired by Fortuna Ltd, a major fishing quota and vessel owner in the territory.
A Landmark Deal for Maritime Heritage
The acquisition was finalised this week, with executives from both companies announcing ambitious growth plans. The deal is set to propel Ocean Fish towards becoming a £100 million turnover business by 2030, primarily through expansion into international markets.
Ocean Fish, previously controlled by the Lakeman family who have fished Cornish waters for generations, has grown substantially in recent years. Its expansion was bolstered by the purchases of W Stevenson and Sons in Newlyn and a recent partnership with Chapman's of Sevenoaks.
Strategic Growth and Synergies
Leigh Genge, who remains as chief executive and a minority shareholder of Ocean Fish, expressed strong optimism about the partnership. He described the union as the joining of two like-minded businesses with significant cultural and commercial alignment.
"The access to wider group support as we set about delivering turnover of £100 million by 2030 was a compelling factor for me in this consolidation," Mr Genge stated. "Our unique and vertically integrated supply chain just became much stronger with access to new global markets, product synergies and a new species into the UK."
He extended gratitude to both the Fortuna leadership and the outgoing Lakeman family, acknowledging Andrew and Edward Lakeman's unwavering support over past decades while assuring that the Lakeman family heritage remains in safe hands.
Preserving Legacy While Driving Innovation
Ocean Fish carries a rich heritage in family fishing with origins in Mevagissey stretching back more than four centuries. The business has evolved dramatically from using basic wooden vessels to becoming a contemporary, fully integrated enterprise with its own fleet, processing facilities and market operations.
Fortuna executives have emphasised their recognition of the Cornish firm's historical significance and commitment to supporting its continued growth. A company spokesperson highlighted the solid foundations established by Ocean Fish, noting its consolidated supply chain encompassing everything from catching and marketing to processing, export, retail, wholesale and food service.
James Wallace, managing director of Fortuna Ltd, added: "This is a significant acquisition for Fortuna which builds on our strengths as a company, helps further diversify our business, and provides exciting opportunities to realise synergies between the two companies."
He further noted that Ocean Fish Group's unique vertical integration makes it particularly valuable, expressing excitement about involvement in the company's future and helping deliver its impressive growth plans while building on the Lakeman family legacy.
