Salmon producer Bakkafrost swoops for Faroe Seafood UK – Fishupdate.com

Salmon producer Bakkafrost swoops for Faroe Seafood UK Published:  11 December, 2012

THE Grimsby-based sales company Faroe Seafood UK is to become part of the Bakkafrost group which is the largest farmed salmon producer in the Faroe Islands, it was announced last night, December 10.

The value of the deal has not been disclosed, but it takes effect from January 1 and it opens an important door for Bakkafrost into the UK market.

However, Faroe Seafood has already been selling some Bakkafrost products in Britain. Faroe has an annual turnover of £4.5 million and in its last figures produced a pre-tax profit of £150,000. The existing staff will continue with the new set-up.

Torkil Davidsen, head of operations at Faroe Seafood UK, told Fish Update: “Faroe Seafood has always worked closely with the Faroese farming sector, along with the rest of the fishing industry.”Over the last 15 years Faroe Seafood UK Ltd in Grimsby has increased focus on both fresh and frozen salmon products, while still supplying various whitefish products. The partnership we have had with salmon farmers Bakkafrost is now taking a step further, with Bakkafrost’s acquisition of Faroe Seafood UK Ltd.”

Torkil added: “We at Faroe Seafood UK Ltd are very excited about the new partnership, for us it is business as usual and we look forward to continuing to supply and grow with all our customers and partners on the market.”

Meanwhile, Regin Jacobsen, the CEO of Bakkafrost sent out a statement last night saying: “The acquisition will give us the benefit of a direct route to the UK market for all our products, while strengthening our market position, where we can see great further potential for our products.”The company has also said that it is in the market for further acquisitions, should the right opportunity arise.

Together with this acquisition the sales manager for Faroe Seafood UK Limited, Mr Simon P. Jacobsen, has been appointed sales manager for the Bakkafrost Group. Mr Jacobsen is 48 years old and has an extensive career within the business of sales and management in the white fish industry as well as sale of salmon products to European supermarket chains.

Bakkafrost, which sponsors the Faroe Islands national football team, is a company controlling the extended value chain – from feed to finished value added products – offering total traceability and consistent high quality. Its longstanding experiences in the seafood industry and our focus on providing our customers with superior salmon products has made Bakkafrost well reputed as a reliable and responsible partner.

The group operates 16 farming sites located in 15 different fjords. The group has primary processing in Klaksvík, Kollafjørð and Strendur, and secondary processing (VAP) in Glyvrar and Fuglafjørður. The headquarters are located in Glyvrar, and the company has a total of 525 employees