Icelandic fishing and processing Fisk Seafood has acquired a 60 percent stake in Ólafsvík-based company Steinunn via a subsidiary company in the west of Iceland.
Steinunn, which operates the seine-netting vessel Steinunn SH-167, has been owned by five brothers and their families for the past 50 years.
Fisk said the ISK 2.5 billion (USD 19.5 million, EUR 16.5 million) acquisition will further strengthen its coastal fishing activities, and that the proximity of Snæfellsnes to the fishing grounds of Breiðafjörður and the operations of its subsidiary, Soffanías Cecilsson. The acquisition will make the further development in these areas even more feasible, Fisk said.
"This is a big and important step for Fisk Seafood in its quest for greater diversity in the fishing, processing, and sale of Icelandic seafood. We regard Snæfellsnes as an important link for our continued expansion in the fishing industry,” Fisk Seafood Managing Director Friðbjörn Ásbjörnsson said.
Once the deal is completed, brothers Brynjar and Ægir Kristmundsson and their families will each hold a 20 percent stake in the company. They will also continue in their present roles as skipper and engineer on board Steinunn.
"We are grateful that this long operation of the family has now had the opportunity for a powerful renewal. The arrival of Friðbjörn Ásbjörnsson with extensive knowledge of the conditions of the fishing industry in Snæfellsnes and the strong backing of Fisk Seafood gives good promise for the future,” the Kristmundssonir brothers said.
Ásbjörnsson said he believes it will be “extremely instructive” to work with the brothers.
“They have visited the sea in these areas with great perseverance and have knowledge and courage that I have admired for decades. Steinunn SH 167 has been among the highest-catch boats in the country for a long time and it is a great source of anticipation to join this powerful fishing company,” he said.
The other owners of Steinunn will sell their shares in the company.
Steinunn SH 167 was built in 1971 at Iceland’s Stálvík shipyard in Garðabær. It has a fishing quota of 1,100 metric tons (MT), including about 850 MT in cod, haddock, saithe, plaice, and other species.
Photo courtesy of Fisk Seafood ehf
