Frozen food duo sell up to storage firm

LEEDS-BASED Ice Pak Seafood Specialists has been acquired by leading cold storage and distribution company Yearsley Group for an undisclosed sum.

In a deal brokered by Mazars of Leeds and law firm Clarion, vendors Tony and Alan Cantrill have agreed the sale of their entire issued share capital of Ice Pak, which supplies frozen foods to wholesalers throughout the UK.

Established in 1983, the 32m turnover company has extensive cold storage facilities in Leeds as well as its Lucky Red Foods site in Middleton near Manchester.

Heywood-based Yearsley Group is the UK's largest cold storage and distribution firm, with a dozen cold stores around the UK and a fleet of 300 delivery vehicles.

A statement issued by the Cantrills described the sale as "complex", adding: "We have spent almost 30 years building up this business and are pleased to see it being taken forward as part of a well-respected and growing national frozen food supplier."

Yearsley MD Harry Yearsley said: "We are delighted to announce the acquisition of Ice Pak.

"It strengthens our share of the frozen food sales market and, as there are very few crossovers in terms of customer base and product range, the opportunities to grow the business are huge."

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