Recently acquisitive Icelandic seafood company Samherji has acquired a 25.3 percent share in Eimskip, a shipping firm based in Reykjavik, Iceland.
The deal, announced 18 July, will see Samherji pay ISK 11 billion (USD 103.4 million, EUR 88.3 million) for the entire stake of Eimskip owned by the U.S.-based Yucaipa Companies, which has been a minority owner since 2009 and helped take the company public. Yucaipa previously announced its decision to review its strategic options regarding retention of or a possible disposal of part or all of its stake in Eimskip in November 2017.
“Eimskip is an international shipping company that builds its operations on good customer service with the operation of a ship fleet in the North Atlantic,” Samherji Managing Director Thorsteinn Már Baldvinsson said in a press release. “We are very well-acquainted with the operation of ships and the importance of transportation in an international environment. It will be challenging, but at the same time it is a pleasure to participate in the company’s continued development in close cooperation with other shareholders.
Eimskip has a fleet of four containerships and six reefers, with another two boxships under construction in China, according to Seatrade Maritime News. It recently expanded its operations in the United States by moving to weekly service to its U.S. headquarters in Portland, Maine. The new shipping schedule will shuttle Eimskip ships between Reykjavik and Portland weekly, with additional stops in Halifax, Nova Scotia and Argentia, Newfoundland. Via Reykjavik, products shipped through Eimskip can then travel through the company’s European shipping network across Scandinavia, the United Kingdom, and Northern Europe.
Akureyri, Iceland-based Samherji is a vertically integrated seafood company operating a fleet of fishing vessels, numerous processing plants and fish farms in Iceland. It also runs a global sales and marketing operation.
Earlier in July, Samherji purchased Collins Seafood, a marketing and distribution company based in the United Kingdom.
