Baader finalises Skaginn acquisition
Food processing machinery supplier BAADER has completed its acquisition of Icelandic competitor Skaginn 3X. The deal was announced in October last year.
BAADER, based in Lubeck, Germany, said it had taken a majority stake in Skaginn in order to combine its own manufacturing capability with Skaginn’s innovative cooling, freezing and processing expertise.
The two organisations will now work towards creating an integrated global sales force. BAADER said existing sales contracts will continue in order to ensure continuity and there were no workforce reductions planned for either business.
Petra Baader, Executive Chairwoman of BAADER, said: “Our overall mission is to be the one go-to partner for customers within the fish industry, as we have done for over 100 years. Our aim is to provide and service innovative stand-alone equipment and system solutions within all major segments of fish that are best in class, based on strong engineering and deep-rooted knowledge of the industry.”
Ingólfur Árnason, CEO of Skaginn 3X commented: “With the global BAADER distribution network, Skaginn 3X can continue to focus on innovation and fully utilize the manufacturing capabilities in Iceland to serve the new BAADER sales and service network.”
The Skaginn 3X board now comprises Jeffrey Davis, CEO of ISEA Partners, as Chairman; Petra Baader, Executive Chairwoman of BAADER; Robert Focke, Managing Director of BAADER; Una Lovísa Ingólfsdóttir, Skaginn 3X Executive; and Ingólfur Árnason, CEO of Skaginn 3X.
In January, BAADER acquired the Swedish fish processing machinery business SEAC AB.