Icelandic Group prepares to sell Seachill arm
The Board of Icelandic Group has announced its decision to initiate a sale process for its Seachill operation, a leading supplier of chilled fish to the U.K. retail market.
In addition to being a large chilled fish processor, Seachill is also the owner of The Saucy Fish Co., a four-time CoolBrand award winner, which this year also entered the frozen retail category.
Founded in 1998, Seachill´s revenues totaled GBP 266.3 million (USD 340.5 million, EUR 318.4 million) in 2016, with earnings before interest, tax, depreciation and amortization (EBITDA) of GBP 10.4 million (USD 13.3 million, EUR 12.4 million).
The company employs around 750 people.
Reykjavik-headquartered banking group Islandsbanki and the U.K.-based Oghma Partners have been mandated to manage the sale of all shares in Seachill.