Iceland Seafood International Agrees on Terms to Buy Icelandic Iberica
SEAFOODNEWS.COM [SeafoodNews] - May 1, 2018
Iceland Seafood International’s intent to buy Solo Seafood, sole owner of Icelandic Iberica, would create a European powerhouse that would control ten percent, or about 40,000 mt, of Icelandic fisheries quotas.
The announcement for the acquisition was made yesterday.
The integrated companies will serve over 3000 customers in more than 45 countries owning 9 production facilities.
Icelandic Iberica is one of the leading seafood companies in the South European market with turnover of €120m and pre-tax profits in excess of €4 million with a projected 2018 outturn of more than €4.7M at pre-tax level. With its extensive product range including cod (bacalao), Argentinian shrimp, cuttlefish and hake and processing capacity in Spain and Argentina, the company has seen strong growth in sales and profit in the last few years.
The acquisition produces in combination a Group with sales of more than €400m...
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