THE man who bought Young's Seafood and its European stable-mate Findus for over a £1-billion last week has admitted that he's something of a fish fanatic!

Fish Update 29/07/2008

Lyndon Lea, is the founder of Lion Capital, the private equity company which acquired Foodvest from the CapVest Group and this weekend he spoke with enthusiasm about seafood and his new company.

He told the Sunday Telegraph at the weekend: "I love fish. In my freezer I have fish fillets along with frozen raw fish. Working like I do, frozen fish is the only practical way to access fish at home."

Lea, aged 39, said he had been watching the seafood and frozen food market for the past two years and believes its worth has been under estimated. He believes it has huge potential for growth, both in Britain and on the Continent and revealed that he is looking at a pan-European operation, possibly separating the frozen and chilled businesses.

He refused to be drawn on speculation of a future tie up with that other frozen food and fish giant, Birds Eye, but admitted he would soon be making other frozen food acquisitions, one of them based in Britain.

Lea said the once held negative perception of frozen food was changing and the public was now realising that it had a far higher nutritional value than some so called 'fresh' alternatives. His message was clear - Young's and Findus is line up for growth and that has to be good news for Young's 4,000 strong Grimsby and Scottish workforce.

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