Kreston Reeves has advised Fortuna Ltd on its acquisition of Ocean Fish Group.
Fortuna Ltd, based in Stanley, is the leading company in the fishing industry in the Falkland Islands with a strong international reputation for wild-caught and sustainably fished seafood.
Ocean Fish Group, based in Cornwall, is the county’s oldest fishing and processing import-export business, supplying large UK and European retail, wholesale and food service customers.
With the acquisition of the Ocean Fish Group, Fortuna, the largest fishing company in the British Overseas Territories, is taking its first steps into the UK fishing industry. Recognising the cultural, social and economic importance of seafood to Cornwall and the UK, Fortuna is fully committed to supporting the business to grow and reach its full potential.
It is the second acquisition Fortuna has made advised by Kreston Reeves. In November 2024, the firm advised Fortuna on its acquisition of the Holyhead Towing Company Ltd, based on the Isle of Anglesey in North Wales.
The Kreston Reeves team was led by Corporate Finance Director Craig Dallender, supported by Partners Tom Wacher and Mohammed Mujtaba, Corporate Finance Manager Sakshi Gupta, Corporate Finance Assistant Managers Nathan Worby and Rachel Pierce, Corporate Tax Senior Manager Zhen Bailey, Corporate Tax Senior Robert Nixon and VAT Senior Tanraj Bansal.
Craig said: “We are delighted to have assisted the team at Fortuna on this important acquisition. It was a complex transaction that required specialist advice from across the firm, and a clear demonstration of our ability to advise clients wherever they are in the world on UK transactions.”
James Wallace, Managing Director Fortuna Ltd, said: “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. Ocean Fish Group is unique in its vertical integration, and we are very excited to be involved in the future of the company and help to deliver its impressive plan for growth. I am delighted to welcome them into the Fortuna Group.
“I’d also like to thank the team at Kreston Reeves for their invaluable assistance in progressing this acquisition”
The acquisition was also supported by HSBC, Michelmores, Andrew Jacksons and FRP Advisory.
