Around 80 full-time jobs will now be created after Iceland Seafood International acquired vast Athenian Way premises, on Great Grimsby Business Park.
The site will be used to bring together existing town business Havelok and Icelandic Seafood Barraclough, who will trade as Iceland Seafood UK after striking a multi-million-pound merger.
Duncan Willey, divisional director of PPH Commercial, acted for 2 Sisters' holding company as seller of the site, which had been marketed for £3.5 million.
Welcoming the news, Mr Willey said: “This is the largest industrial transaction completed so far this year and it’s great news for the town of Grimsby and the people who live and work here.
“To get a food production facility in the order of 100,000sqft back into operation will create a large number of new jobs – it’s a great result for everyone involved."
The new business will be led by the company’s existing UK managing directors Peter Hawkins and Danny Burton, who will unite at the former 2 Sisters Group facility early next year.
Mr Hawkins will head up the total operation, whilst Mr Burton will oversee the refurbishment of the site and operational teams.
Mr Hawkins said: “The move represents a significant opportunity for all of our people to be part of. We anticipate becoming a leading UK fish and seafood manufacturing site.”
Mr Burton, who spent a significant proportion of his career at Five Star Fish, added: “This significant investment underlines Iceland Seafood’s commitment to Havelok and the UK seafood market and gives us the opportunity to build on the outstanding values of the Havelok team and offer a level of service and supply that is second to none.”