Jobs secured at Wester Ross

The future of one of the longest established, independently owned salmon farming companies in Scotland has been secured in a management buyout deal worth over £1.1million.

The move which will secure 50 full-time jobs at Wester Ross Salmon is being backed with a £400,000 joint package of assistance from HIE Inverness and East Highland and HIE Skye and Wester Ross.

The business which operates two fish farm sites near Ullapool, three smolt production units, a processing factory in Dingwall, together with offices in Inverness was at risk of being broken up or sold off following the retirement of its directors.

The management buyout will see Gilpin Bradley who has been with the company since 1990 take a majority shareholding along with fellow directors Colin Milne, Hugh Richards and David Robinson.

The new company called Wester Ross Fisheries Ltd has purchased some of the assets of Wester Ross Salmon although the business will still trade as Wester Ross.

Stuart Black, chief executive of HIE Inverness and East Highland said: "A large proportion of the secured jobs are in an area where few alternative job opportunities exist. It was therefore important the HIE network assisted this proposal which comes from a strong management team that has the experience, vision and enthusiasm to successfully run the business. The HIE network has supported the salmon farming industry over many decades and this is an excellent example of good succession in the industry."

Robert Muir, chief executive of HIE Skye and Wester Ross added:  "Farmed salmon is a high growth sector and with EU, US and Far East markets set to expand over the next five years, there is significant potential for the sector as a whole, especially as UK consumers are prepared to pay a premium for Scottish salmon."

As well as taking ownership of the business, the directors intend to make further investment in new boats, equipment and new technology. Highland Opportunity Limited - the enterprise trust for the Highlands - has also assisted the business with a £100,000 loan.

Director of Wester Ross Fisheries Ltd, Gilpin Bradley said: "As a company, we can now look to the future with optimism and confidence. We have a loyal customer base that has been built up over many years and we are looking forward to developing niche markets even further. This will help broaden our product range and add value to the high quality produce for which Wester Ross Salmon and the Highlands and Islands are renowned."

Wester Ross Salmon differentiate themselves with the RSPCA Freedom food label and 'Label Rouge' which are niche markets. As well as strong domestic market sales of their products, they also export to Europe.