FIS - Worldnews - Icelandic Group sells its Belgian operations

Welcome to FIS

Sponsored By

Gadus is specialized in the production and sale of fresh seafood to retailers and wholesalers. (Photo: Icelandic Group)

Icelandic Group sells its Belgian operations

ICELAND
Thursday, January 12, 2017, 01:00 (GMT + 9)

The board of directors of Icelandic Group has decided to initiate a public sale process for its Belgian operations, Gadus.

Gadus is specialized in the production and sale of fresh seafood to retailers and wholesalers. The company has being operating for over 25 years, and is the second largest fish processor in the Belgian fresh fish market.

The company sells about 7,000 tonnes of product annually and is a category leader for large retail and cash & carry chains. Besides, it has signed a long-term exclusive contract with a major retailer in 2015.

Gadus’s revenues totalled approximately EUR 83 million in 2016, and it employs nearly 130 people.

Íslandsbanki Corporate Finance will be in charge of managing the sale of all Gadus shares.

The announcement of the sale of Gadus follows another event by Icelandic Group in mid-December, an agreement with Nesfiskur ehf for the sale of its subsidiary Ný-Fiskur. This operation would not include the company's trademark, Iceland Seafood.

This sale is part of the Iceland Enterprise Investment Fund's plan to simplify the operations of Icelandic Group, which belongs to it as a whole.

Earlier, the investment fund had informed the sale of another subsidiary of Icelandic Group located in Spain, to an Icelandic producer.

Related articles:

- Icelandic Group sells its subsidiary Ný-Fiskur
- Icelandic Group sells Spanish subsidiary to Icelandic producers

[email protected]
www.fis.com

MORE NEWS

United States Jul 21, 07:30 (GMT + 9):
	IN BRIEF - The Fight for Healthy Fisheries Resurfaces in Congress

Norway Jul 21, 07:30 (GMT + 9):
	IN BRIEF - How do we assess the welfare of farmed salmon?

United States Jul 21, 07:30 (GMT + 9):
	IN BRIEF - New Hampshire man captures rare blue lobster, donates to science

Worldwide Jul 21, 07:00 (GMT + 9):
	IN BRIEF - Arsenic in Seafood May Impact Thyroid Health

South Africa Jul 21, 07:00 (GMT + 9):
	IN BRIEF - Durban fishermen want access to all traditional fishing grounds

Liberia Jul 21, 03:00 (GMT + 9):
	IN BRIEF - Senate Receives National Fisheries and Aquaculture Authority Bill

Canada Jul 21, 03:00 (GMT + 9):
	IN BRIEF - Conservation groups want measures to protect declining salmon

United States Jul 21, 03:00 (GMT + 9):
	IN BRIEF - Yukon sees return of the kings: This year's chinook salmon run strongest in more than a decade

Norway Jul 21, 03:00 (GMT + 9):
	IN BRIEF - The police investigating Norwegian pike mafia

United States Jul 21, 02:20 (GMT + 9):
	NGO urges international entity to probe Hawaii's fleet labour conditions

Chile Jul 21, 01:30 (GMT + 9):
	Strong financial support to boost offshore aquaculture

United States Jul 21, 01:20 (GMT + 9):
	Codfather’s associate convicted in cash smuggling scheme

Mexico Jul 21, 00:10 (GMT + 9):
	Sagarpa and Semar to collaborate in Mexican waters fishing inspection and surveillance

Australia Jul 20, 23:50 (GMT + 9):
	Record-breaking marine heatwave harms Tasmanian fisheries

Australia Jul 20, 23:10 (GMT + 9):
	Researchers offer additional shrimp disease testing service

Lenguaje

FEATURED EVENTS

TOP STORIES

Whale shark capture and trade banned
Peru The Ministry of Production announced a ban on whale shark (Rhincodon typus) capture in marine waters of Peruvian jurisdiction as well as its landing, transportation, retention, processing and marketing.

Thailand to make bigger effort against IUU fishing, according to the EU
Thailand The Thai government's efforts to combat illegal, unreported and unregulated fishing seem to be insufficient for the European Commission to withdraw the 'yellow card' issued to that country.

Industry praises financial aid for paua fishermen
New Zealand Seafood New Zealand has welcomed the financial assistance package announced by the Government for the Kaikoura commercial paua divers, who have been under considerable financial stress since last year’s earthquake.

Important research progress made in disease-resistant seaweed
United Kingdom A team of scientists conducting research into the genetic make-up of a resilient red alga is a step closer to breeding disease-resistant seaweed.