Icelandic Group agrees to sell Ný-Fiskur

Seafood distributor Icelandic Group has reached an agreement for the sale of its Ný-Fiskur subsidiary to Nesfiskur.

The divesture is part of the Iceland Enterprise Investment Fund’s plan to streamline the operations of Icelandic Group, which is fully owned by the former.

The sale does not include the company’s ‘Iceland Seafood’ trademark.

Icelandic Group board of directors chairman Herdís Dröfn Fjeldsted said: “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 are pleased with their plan to keep the operations in Sandgerði.”

For the past three decades, Nesfiskur has been based in Garður, Iceland, and operates freezing and fresh fish production facilities in Sandgerði, Iceland.

Ný-Fiskur is focused on processing and sale of fresh seafood, and it uses approximately 6,000t of raw material a year.

With a workforce of 70 employees, it operates a processing facility in Sandgerði and a line vessel, Von GK-113, through its subsidiary Útgerðarfélag Sandgerðis.