Íslandsbanki advises Horn III on acquisition of 50% stake in Lífland
Venture capital fund Horn III has acquired a 50% stake in Lífland. Þórir Haraldsson, managing director of Lífland, owns the other 50% stake in the company. The sellers are Sólveig Pétursdóttir and her family. The purchaser was advised by Íslandsbanki on the transactions, and BBA Legal and LEX provided legal advice.
Lífland’s operations centre on the production of feed and the sale of operational inputs for agriculture, milling and sale of Kornax flour and other related products, and the operation of six specialty stores for equestrians and farmers around the country. The company employs some 80 members of staff. Lífland’s origins go back to 1917, when the dairy company Mjólkurfélag Reykjavíkur was founded by farmers with the aim of overseeing the receipt and distribution of milk to Reykjavík residents.