Fisk Seafood acquires one-third of VSV

Fisk Seafood ehf. has entered into an agreement to purchase all of the shares owned by Brim hf in Icelandic fishing company Vinnslustöðin hf (VSV). 

Equating to a one-third share of the total capital in VSV, the purchase price has been confirmed as ISK 9.4 billion (USD 80.7 million, EUR 70 million). 

The deal has to be sanctioned by the Icelandic Competition Authority.

“The management of Fisk Seafood looks forward to cooperating with the owners and managers of Vinnslustöðin hf and sees great opportunities in the cooperation between the two fishing companies,” according to a statement issued by Sauðárkrókur-based Fisk. 

Sigurgeir B. Kristgeirsson, managing director of VSV, welcomed the move, saying that the company sees “interesting opportunities” in the new partnership.

VSV catches groundfish and pelagic species. It also produces fishmeal and fish oil.