Agreement reached on acquisition of 69% holding in Ölgerðin


An agreement has been reached on the acquisition of a 69% holding in Ölgerðin Egill Skallagrímsson ehf. The sellers are Eignarhaldsfélagið Þorgerður ehf., F-13 ehf., and Lind ehf. The buyers are represented by venture capital funds Akur slhf. and Horn III slhf. and a group of private investors. The purchase agreement, which has now been signed, is subject to the approval of the Competition Authority. Advisors for the purchaser group were Íslandsbanki and Lagahvoll.

“Ölgerðin Egill Skallagrímsson is a highly interesting company, and we are looking forward to joining the group of owners. It is one of Iceland’s leading companies and has the potential to grow even further and take advantage of opportunities for expansion in the market,“ says Hermann Már Þórisson, Managing Director of Horn III.

Ölgerðin’s current Chairman of the Board, Októ Einarsson, and its CEO, Andri Þór Guðmundsson, are not participating in the sale and will therefore continue to own the largest single holding in the company through their holding company OA Eignarhaldsfélag ehf. Following the acquisition, the owners aim to increase Ölgerðin’s share capital in order to support the company’s plans for organic growth.
“We welcome new owners to Ölgerðin’s investor group. Ölgerðin is a 103-year-old company that is well run and has a special place in the minds of Icelanders, with its strong brand and vast opportunities, not least in exports,“ says Chairman of the Board Októ Einarsson.

About Ölgerðin Egill Skallagrímsson:
As one of the largest companies in its field, Ölgerðin manufactures, imports, distributes, and sells food and specialty products of various kinds. The company employs a staff of over 400 and estimates its year-2016 turnover at nearly ISK 22bn.


Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More