Macrae Food Group, the Scotland-based frozen foods processor, has made final moves to buy up the two processing plants from the beleaguered Fisher Foods.
The two fish processing plants in Fraserburgh and Peterhead, which combined employ some 770 people, were bought for a sum which Macrae is refusing to reveal. The company did however state that it intends to invest around £5 million (€7.9million) in an attempt to make the business more efficient.
The news will be welcomed by the staff at the two plants, who have not known what the future would be since the collapse of the Fisher business back in May.
Bill Hazeldean, chief executive of Macrae, stated: "If we can create a centre of excellence with a highly skilled and motivated staff we have a very good opportunity to grow the business substantially."