Iceland-based Hampidjan Group is merging three of its subsidiaries – Vónin Aquaculture, Mørenot Aquaculture, and Fiizk Protection – under one company named ELDI.
Hampidjan said the merger will be official as of 1 January, 2026, and will strengthen its position in the market by allowing one company to offer a broad portfolio with a unified service network.
“Our vision is to become the global provider of end-to-end aquaculture innovation. This means combining world-class technology, smart products, strong service capabilities and a global footprint with the local presence our customers rely on,” Thomas Myrvold, who was CEO of Mørenot Aquaculture and will now be CEO of ELDI. “We want to help shape the future of aquaculture by acting as a global player and a solutions-focused innovation company, while remaining firmly rooted in the communities and regions we serve.”
Hampidjan Group first began trading on the Nasdaq Iceland Main Market in 2023, soon after purchasing Mørenot in 2022. The company later had Vónin take over Mørenot Scotland in 2024 as it began to consolidate its subsidiaries to take advantage of synergies between the companies.
Now Hampidjan has gone a step further in consolidation, bringing the three companies under one leadership structure.
“The aquaculture industry has changed, and we must change with it. The global demand for sustainable and healthy protein is rising quickly, and customers now expect scale, integration and reliability from their partners,” Myrvold said. “While our companies have each set standards in their respective fields, we were not operating as one coordinated global player. By merging, we can unlock the full potential of our shared expertise, reduce internal complexity and deliver a stronger, unified offering to every market.”
In a release, Myrvold said the combination of the three subsidiaries will allow ELDI to offer more to its customers than each company offered on its own, and will help reduce redundancies given the overlap that existed between some companies in some markets.
“In some markets, we overlapped. In others, opportunities were not fully captured because our teams were not fully aligned,” he said. “Production capacity differed across regions, best practices were not always shared, and suppliers sometimes viewed us as one company even though we operated as several. These were natural limitations of being separate organizations.”
The company said its service network will remain unchanged after the merger, and its product portfolio will shift so all of its products will be available in all markets touched by the three previous companies.
“With the establishment of ELDI, we are combining the capabilities needed to address these challenges in a targeted manner and with clear strategic planning,” Hampidjan CEO Hjörtur Erlendsson said in a release. “Our goal is to be a driving force in the development of the industry and continue to grow on the strong foundation we have today; closer proximity to customers than others have, decades of knowledge and experience in the production of aquaculture equipment, Hampidjan's corporate culture where relentless product development is at the forefront, and the production efficiency that we are building up in India."
