Samherji’s foreign operations, which are under Alda Seafood Holding, are being sold by the company to Baldvin Thorsteinsson, the CEO of Alda Seafood and the son of Samherji CEO Thorsteinn Mar Baldvinsson.
Baldvinsson is one of the largest shareholders of Samherji and has served as the company’s CEO for several years, barring a brief period when he stepped aside from the position during investigations into Samherji’s involvement in the so-called “Fishrot scandal.” Thorsteinsson, meanwhile, has managed Alda Seafood for “the past few years” as the CEO of Alda Seafood Holding, according to a press release from Samherji.
Alda Seafood owns assets involved in the fishing industry in Europe and North America, which prior to the sale were operated as a subsidiary of Samherji.
"Samherji started operations on foreign soil in 1994. We believed then and still believe that the knowledge and experience in the Icelandic fishing industry should be utilized more extensively,” Baldvinsson said. “We exported our knowledge of fishing and processing onboard ships and onshore.”
Baldvinsson said Samherji has directed much of its business to Icelandic companies since its founding, including producers of fishing gear and fish processing equipment.
“This policy has been successful and effective and has sparked business relationships between Icelandic industrial companies and the fishing industry in several countries,” he said.
Now, Thorssteinsson is purchasing Alda Seafood outright via the sale of its assets to an unnamed Dutch company he manages and owns a majority stake in.
“Pending routine procedures and approvals, the company will control Alda Seafood’s holdings in fishing companies in Europe and North America,” Samherji said.
Thorsteinsson said that the operations already stand on “strong foundations” and that the day-to-day operations of the business will continue.
“I have been managing this business from the Netherlands since moving there. That will not change, but now I have an exciting opportunity to manage the operations under my own company and brand,” he said. “I have the utmost faith in the business and am confident there are still opportunities for expansion in our current markets.”
According to Baldvinsson, the company’s operations will remain in Europe, and the sale will allow the operations of the “primarily European companies” to remain in Europe.
“It is vital that the ownership is in the hands of an individual who can manage it closely and is willing to focus on its continuous growth,” Baldvinsson said. “We wish Baldvin Thorsteinsson all the best in that journey. We are confident that the company will prosper under his management alongside the company's excellent employees.”
Photo courtesy of Samherji/Eythor Arnason
