09. September 2016
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“
For further information on Icelandic Iberica: http://www.icelandic.es/en/home