Icelandic Group to sell UK’s Seachill business

Icelandic Group is all set to initiate the sale of its UK’s chilled fish business known as Seachill.

Founded in 1998, Seachill works with MSC-certified seafood suppliers, as well as those who are involved in the fisheries improvement programme.

Seachill also owns ‘The Saucy Fish’ in the UK, which entered the frozen retail category earlier this year.

With a workforce of approximately 750 employees, Seachill reported revenues of £266.3m last year, with EBITDA of £10.4m.

Icelandic Group has appointed Íslandsbanki and UK-based Oghma Partners to manage the sale of all Seachill shares.

Completely owned by the Enterprise Investment Fund (EIF), Icelandic Group recently signed an agreement to sell its Belgian subsidiary Gadus to Steinasalir, which is owned by Icelandic seafood companies Saemark Seafood, Fishproducts Iceland, and Akur.

Gadus processes, sells and distributes fresh fish products, as well as handles and produces 7,000t of seafood a year.

Steinasalir aims to further promote sales of quality seafood in Belgium and Central Europe.

Icelandic Group owns and manages the marketing of the Icelandic and Icelandic Seafood brands, as well as provide various services to licence holders and other producers in Iceland.

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Image: Icelandic Group plans to sell its Seachill business operations in the UK. Photo: courtesy of Icelandic Group.