Solo Seafood ehf has signed
an agreement to acquire Icelandic Iberica in Spain a subsidiary of Icelandic
Group. Kvika was the advisor to Solo Seafood in this transformational transaction
where harvesters, producers and marketing and sales capabilities are brought
together into a strong vertically integrated company.
Solo Seafood ehf. is owned by
key suppliers of Icelandic Iberica, Fisk
Seafood hf., Jakob Valgeir ehf., Nesfiskur ehf and Sjávarsýn ehf. Icelandic
Iberica's CEO, Hjörleifur Ásgeirsson, will continue to
lead the company in partnership with the new shareholders. The purpose of the
acquisition is to strengthen the sales and marketing capabilities of seafood
from Iceland in southern Europe. The annual sale of Icelandic Iberica is approximately
€ 100 million.
Magnús Bjarnason, Managing
Director of Corporte Finance at Kvika:
„We congratulate Solo Seafood on this
important acquisition where Icelandic producers
and marketing and sales capabilities are brought together into a strong
vertically integrated company. It is our view there will be more transactions of
a similar nature taking place in the near future“
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For further information on Icelandic
Iberica: http://www.icelandic.es/en/home