Humber seafood business acquires 40,000 sq ft facility with eight-figure funding

A seafood supplier in Grimsby is preparing to expand with the help of an eight-figure funding package.

Northcoast Seafoods, which imports sustainably sourced seafood products, has acquired a new 40,000 sq ft facility with the cash boost from HSBC.

The company’s new premises will enable it to bring its entire UK operation under one roof.

Northcoast also plans to utilise international trade facilities included in HSBC’s funding package to increase imports. The firm currently brings in raw products from suppliers in Asia, North America and Europe, but with a strengthened cash-flow it will look to expand its network globally.

Northcoast chief exec Fridrik Thorsteinsson said: “Our new site, complete with increased trade facilities, has given us the ability to meet increasing demand from customers in the UK and overseas, without compromising the fantastic quality we’ve become known for.

“HSBC UK’s expertise both in our foreign markets and in the Humber region has allowed us to make strategic investments and achieve our business goals.”

HSBC’s relationship director for North Yorkshire and Humber corporate banking, Daniel Wilson, commented: “Fridrik and his team at Northcoast Seafoods have worked hard to procure seafood to the highest possible standards and they are widely recognised within the sector.

“With this level of focus and drive, we are excited to see what the next stage of development looks like for the business and where it will cast its net next.”

Founded in 2000, today Northcoast Seafoods employs 110 people across sites in Grimsby, Canada, Germany and Denmark.