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09.12.2016

Icelandic Group sells Ný-Fiskur and has reached an agreement

Icelandic Group has reached an agreement for the sale of its subsidiary Ný-Fiskur to Nesfiskur ehf. The company’s trademark ‘Iceland Seafood’ is not included in the sale.

The sale of Ný-Fiskur is a part of the Iceland Enterprise Investment Fund’s plan to streamline the operations of Icelandic Group, which is fully owned by the Fund. Recently, the Fund sold another subsidiary of Icelandic Group, located in Spain, to a producer in Iceland.

 

For the past 30 years, Nesfiskur’s main operations have been based in Garður, Iceland. Additionally, the company has operated freezing and fresh fish production facilities in Sandgerði, Iceland. The company has expressed interest in continuing its operations in Sandgerði, Iceland.

 

Ný-Fiskur specialises in processing and sale of fresh seafood. The company uses approximately 6.000 metric tons of raw material annually. The forecasted revenue for year 2016 is ISK 3.000m. A large part of the production is exported, by flight, to customers in Belgium and other European countries. Ný-Fiskur operates a well invested processing facility in Sandgerði and a line vessel, Von GK-113, through its subsidiary Útgerðarfélag Sandgerðis, which has around 800 metric tons of cod equivalents share in the Icelandic inshore quota system. The company has around 70 employees and its Managing Director is Þorsteinn Magnússon.

Herdís Dröfn Fjeldsted, Chairman of the Board of Directors, Icelandic Group and Managing Director at the Iceland Enterprise Investment fund: “The past few years have been eventful in the operations of Ný-Fiskur were the focus has been on restructuring various parts of the operations. We believe that the future prospects of Ný-Fiskur are bright and are proud to hand over a sound company to the new owners. Furthermore, we are pleased with their plan to keep the operations in Sandgerði.”

 

About Icelandic Group:

  • Icelandic Group is a holding company that manages the company’s subsidiaries’ in the United Kingdom, Belgium and Iceland. They all specialise in the production and sale of seafood.
  • Icelandic Group is also the parent company of ITH (Icelandic Trademark Holding), which owns the trademarks ‘Iceland’ and ‘Icelandic Seafood’ and handles all the marketing and services to license holders and other producers in Iceland.
  • In the United States Icelandic Group holds the license, in cooperation with Highliner Foods, to sell products under the trademark ‘Icelandic Seafood’ to the hotels and restaurants market.
  • Icelandic group is 100% owned by the Iceland Enterprise Investment Fund (FSÍ). FSÍ is a private equity fund that is owned by 16 pension funds, Landsbankinn and VÍS.

For further information please contact Sara Lind Þrúðardóttir at Icelandic Group by phone +354 852 8804, or by email sara@icelandic.is.