The Board of Icelandic Group hf. has decided to initiate a sales process of its subsidiary, Ný-Fiskur, located in Sandgerði, Iceland. The proposed sale is part of the Company´s strategy to simplify its operations.
Ný-Fiskur is one of Icelandic Group’s four subsidiaries, who earlier this month announced the sale of its Spanish subsidiary, Icelandic Ibérica, to seafood producers in Iceland.
Ný-Fiskur specializes in the production and sale of fresh seafood products, processing ~6,000 Mt of raw material annually. The company’s projected revenues for 2016 amount to ISK 3,000 million (~EUR 23 million). Ný-Fiskur distributes a significant portion of its products, with air freight, to customers in Belgium and other European countries. The company operates a production facility in Sandgerði, in addition to operating a line boat named Von GK-113. The vessel’s quota amounts to 800 Mt (cod equivalent). The company employs approximately 70 people and its managing director is Þorsteinn Magnússon.
Interested parties are invited to contact Íslandsbanki Corporate Finance by email at email@example.com or by phone at +354 440 4000.
About Icelandic Group:
- Icelandic Group is a holding company for subsidiaries in Britain, Belgium, Spain and Iceland, all of which specialize in the production and sale of seafood
- Icelandic Group’s turnover in 2015 was approximately EUR 500 million.
- A new subsidiary of Icelandic Group, ITH (Icelandic Trademark Holding), is the registered owner of the „Icelandic“ and „Icelandic Seafood“ brands. ITH will manage all marketing for the brands in addition to providing various services to the licence holders and other producers in Iceland.
- In the United States the company has a partnership with Highliner Foods, a licence holder for the brand, selling products to hotels and restaurants under the established ´Icelandic Seafood´ brand.
- The Enterprise Investment Fund (EIF) owns a 100% share in Icelandic Group, the parent company of Ný-Fiskur. EIF is an investment fund in ownership of sixteen Icelandic pension funds, Landsbankinn hf. and VÍS hf.