June 1, 2009

UK Foodvest Group to undergo management change, new name

Foodvest , the group which owns Young's and The Seafood Company in the UK, has undergone a major shake up - including a change of name.

The chief executive Per Harkjaer is leaving after five years at the top "due to differing perspectives" with the owners on how to manage the business.

Taking over Harkjaer as chief executive is Chris Britton, who has been involved in the consumer goods industry for 25 years. He was president of baby food division of Royal Numico, a Dutch owned infant nutrition group.

An announcement also said that Foodvest is going to be renamed 'The Findus Group', which consists of Young's The Seafood Company and the Findus operation in northern Europe and Scandinavia.

Foodvest is one of UK's largest seafood producers which was bought by the private equity company Lion Capital for GBP1.1 billion (US$1.8 million) almost a year ago.