Icelandic Ibérica to be sold

18.05.2016

The Board of Icelandic Group hf. has decided to initiate a public sale process for its Spanish subsidiary, Icelandic Ibérica. The sale is part of the strategy of the Enterprise Investment Fund, owner of Icelandic Group, to simplify and restructure Icelandic Group’s operations. Íslandsbanki Corporate Finance has been mandated to manage the sale of all shares in Icelandic Ibérica S.A.

Icelandic Ibérica S.A., one of four subsidiaries of Icelandic Group, is one of the largest sellers and distributors of lightly salted cod from Iceland, as well as other frozen marine products. The company sells marine products to more than 4,000 customers in five countries in Southern Europe. Icelandic Ibérica’s revenues totalled over EUR 100 million in 2015. The company employs approximately 140 people.

The company brand, Icelandic Seafood, is not included in the sale of Icelandic Ibérica. Icelandic Group will continue to own the Icelandic Seafood™ brand, but the buyer will have the right to use it in Europe (Icelandic Ibérica’s main market areas).

Interested parties are invited to contact Íslandsbanki Corporate Finance by e-mail at iberica@islandsbanki.is or by phone at +354 440 4000.

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