Sale of Sco-Fro to Nishimoto Wismettac
On 22nd February, Nishimoto Co., Ltd (“Nishimoto”), via its subsidiary Wismettac Harro Foods Ltd (“Harro Foods”), announced the acquisition of our client, Interlock Investments Ltd and its trading subsidiary Sco-Fro Group Ltd (“Sco-Fro”).
Sco-Fro is UK’s largest importer of own label noodles, frozen surimi and sushi, supplying predominantly the major retailers in UK. The company was established in 1975 by founder and present Chairman Stanley Bernard OBE, who will be stepping down and continuing in an advisory role for a period. It will continue to operate from Glasgow under the present management and staff.
Nishimoto is publicly listed in Japan and the group has $1.6 billion in sales focussed on the supply of Pan Asian foods throughout Asia, USA and Europe. Harro Foods is a wholesaler of Japanese food products mainly to restaurants in the UK. The acquisition of Sco-Fro presents considerable opportunities for both businesses to grow together in the future, including through the sale of Nishimoto Wismettac group’s Pan Asian food product ranges to the retail channel in UK.
Commenting on the sale Stanley Bernard said, “I am delighted that the business will be in safe hands and part of a much larger and highly reputable food group with a global reach and impressive range of products”.