Following the recent sale of the Icelandic Asia business to Brim, The Iceland Enterprise Investment Fund has announced the beginning of a formal sales process relating to its Icelandic Iberica SA business, held within Icelandic Group hf.
With a smaller and less complex business, The Iceland Enterprise Investment Fund has also decided that the remaining individual operations of Seachill (United Kingdom) Gadus (Benelux) and Nyfiskur (Iceland) will report directly to the owners, (Enterprise Investment Fund) and will be wholly-managed by the current in-country teams.
Icelandic Group will be reorganized, retaining only vital services.
Having completed the turnaround and reorganization of the group since 2014, Arni Geir Palsson, group CEO, and Johann Gunnar Johannsson, deputy CEO & CFO, will take on new roles as consultants to the Board to advise and assist the transition.
“Since I was appointed as CEO 18 months ago, I've been committed to ensure our turnaround and future success of the company and each business unit. I'm proud of the progress we've made to date that can largely be attributed to the great team I´ve had the pleasure working with,” said Palsson.
Herdis Fjeldsted, chairman of Icelandic Group and Managing Director of Enterprise Investment Fund, said, “Icelandic Group has undergone major changes in recent years and we have made good progress in reorganizing the company. I would personally like to thank Arni Geir, Johann Gunnar and the management team for their hard work, dedication and contribution to the successful transformation of our business. The sale of Icelandic Iberica, as well as the restructuring of Icelandic Group, is a logical extension of that work.”
Icelandic Iberica was founded in 1996 and specializes in wholesale distribution of a variety of frozen fish products, mostly sourced in Iceland, to Spanish foodservice.
With offices in Barcelona, Madrid, Vigo, Malaga, Genoa, Nantes and Paris, it has around 800 wholesale accounts and delivers directly to more than 2,000 restaurants in Spain.
