Five Star Fish, the big Grimsby based seafood company and a major supplier to the food service industry, has been sold in a multi-million pound deal.

The buyer is Ranjit Boporan, who owns the two sisters food group and who two months ago bought the iconic Harry Ramsden fish restaurant chain. The figure is undisclosed but it is expected to be around the GBP35-million which British Seafood paid for the business three years ago.

The sale includes the transfer of Five Star's manufacturing facilities at Great Grimsby Business Park. Under the sale agreement, the employment of the entire workforce will transfer to the purchaser, safeguarding the jobs of 332 employees.

Previously, the subsidiaries of Vision Seafoods Ltd and Oriental Delight Foodservice Ltd, announced a management buyout of the companies from one of British Seafood's administrators MCR.

The companies will now trade under their new names, Visual Foods Limited and Dragon Delight Foodservice Ltd. The deal ensures security of supply for existing customers and continuity of contracts with international suppliers.

Additionally, earlier in March, British Seafood Group went into administration after banks withdrew trade credit, dealing a blow to 3i, the private equity group that bought 28.5% of the company two years ago.