Processing News

Peterhead based processor Thistle Seafoods has increased its turnover and export sales by 35 per cent and 360 per cent respectively over the last four years.

Pride of Scotland

THISTLE Seafoods, based near Peterhead, also increased is staff numbers by 30 per cent.

It has announced it has secured a multimillion pound asset-based working capital agreement from the Bank of Scotland to support ongoing operations. The bank said it was ‘confident’ the Scottish food sector would continue to grow.

The company now employs 450 people at its headquarters in Boddam. An independently run family business, Thistle Seafoods boasts a number of leading retail and food service customers and produces the best-selling fishcake in the UK.

The business currently manufactures more than 150 products a year and recently moved into new product areas, such as Gluten Free and Diary Free, responding to the growth in modern eating trends.

The working capital agreement from Bank of Scotland provides a platform that will assist with the business’ ongoing growth strategy.

Ryan Scatterty, managing director, said: ‘The business has gone from strength to strength over the past four years, reaching new domestic and export markets.’

Graeme Keen, mid markets relationship director at Bank of Scotland, said: ‘Thistle Seafoods has recorded impressive growth over the last four years and... reflects the confidence and ambition recently reported in Bank of Scotland’s fifth annual food and

The Scottish food sector will continue to grow

drink report, which strongly suggests that the sector will be able to build on the momentum of recent years.

‘Across the Scottish food and drink industry, firms expect to increase their turnover by an average of 24 per cent over the next five years.’