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Icelandic Group Acquires Icelandic Primary Fish Processor

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Icelandic Group Acquires Icelandic Primary Fish Processor

Icelandic Group Acquires Icelandic Primary Fish Processor
February 06
15:20 2014

Icelandic Group, the international seafood processor and trader, has completed the acquisition of primary fish processing company Ny-Fiskur, following approval from the competition authority in Iceland. Icelandic Group will also take over, as part of the transaction, one line vessel (Von GK-113) with quota of around 800 tons.

Ny-Fiskur specialises in processing and sales of various fish products, in particular cod and haddock. Ny-Fiskur is using over 7,000 tons of raw materials annually with 70% of production sold as fresh delivered to end consumer within 48–54 hours. The company will be re-named Icelandic Ny-Fiskur.

Magnus Bjarnason, chief executive of Icelandic Group, says: “The acquisition of Ny-Fiskur is a big step for Icelandic Group in strengthening our access to resources, which is a key component of our strategy and vision to inspire consumers in our markets to eat more fish. Consumers all over the world are asking for more simplicity and total traceability in the value chain and that is what we will provide. As a leading fresh fish processor inIceland, Ny-Fiskur has over the last 20 years established an excellent reputation for supplying high quality fish products to ever-demanding customers inEurope. The company has strong and experienced management team which will continue to work with us and we see numerous possibilities in further strengthening the operations and achieving beneficial synergies within the group.”

Ny-Fiskur was founded in 1989 and has from the outset focused on selling high quality fresh line-caught fish to the European market and is an important supplier to Icelandic Gadus in Belgium. Ny-Fiskur operates BRC certified state-of-the-art processing facilities in Sandgeroi with emphasis on environmentally certified products. Ny-Fiskur employs around 100 people.

With its international network of production and marketing companies inEuropeand Asia, Icelandic Group offers a wide variety of fresh, chilled and frozen seafood products and services on a global scale. Icelandic Group has two main business segments; primary processing and value added processing, and sales and marketing, representing 60% and 40% of total sales respectively.

On the production side, the group operates processing plants in the UK focused on value added products. The sales and marketing platform is focused on promoting Icelandic branded products on all major markets, most notably inUK,SpainandJapan. In addition, Icelandic Group is also involved in primary processing of raw material in Iceland.

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