Bruce Davidson, MD of Loch Fyne Oysters, has heralded the investment as a new chapter in the company’s history

Scottish seafood business Loch Fyne Oysters has secured significant investment which will allow it to capitalise on its brand and penetrate new export markets.

According to the company, the deal provides the resources and partnership expertise for the company to ultimately achieve 50 per cent of sales from outside the UK within five years, as well as introduce innovative methods of sustainable aquaculture across its operations.

The management of the business will remain with the existing team, whilst ownership of the company will now be transferred to Scottish Seafood Investments (SSI). As part of this partnership, Loch Fyne Oysters will remain based in Argyll and all 105 jobs in the company are unaffected.

Bruce Davidson, Managing Director of Loch Fyne Oysters, has heralded the move as a new chapter in the company’s history which will see the business move to the next level. “This is an endorsement of the success story that is Loch Fyne Oysters," said Bruce. "SSI has provided us with the investment we need to grow our business, while ensuring we maintain our independence.

“This exciting new partnership presents some great opportunities, allowing us to increase capacity and work together on the growth of our international business, taking the Loch Fyne brand to the market in the most effective way.

“With SSI’s investment and continued financial support we are not only better able to withstand current economic pressures but also look to the future. I believe that we can now really do the brand justice and look realistically at expanding into new export markets and growing."

Loch Fyne Oysters was set up in 1978 by entrepreneurs Johnny Noble and Andy Lane. The company was moved into employee-ownership in 2003, following Johnny Noble’s death, to give the company stability and to ensure that its future remained based in Argyll. However, in this form, while it doubled in size, Loch Fyne Oysters has not been able to secure external investment needed to take it to the next level. The initial investment will clear the company’s current liabilities and allow it to plan for growth. Further resources will be made available to develop capacity.

Loch Fyne Oysters farms oysters and mussels and operates a smokery from its site at Cairndow at the head of Loch Fyne.