Son of Samherji’s CEO buys overseas division

© Photo: Eythor Arnason
Baldvin Thorsteinsson, CEO of Alda Seafood

The European and North American operations of Samherji, Iceland’s largest integrated seafood group, have been acquired by a company run by the son of the group’s Chief Executive Officer.

A Netherlands-based company owned by Baldvin Thorsteinsson (Þorsteinsson), son of Samherji’s CEO, Thorsteinn Már Baldvinsson) has reached an agreement to buy the assets of Álda Seafood, the foreign operations division of Samherji.

UK based overseas businesses include Ice Fresh Seafood of Grimsby, which has a fish smoking operation supplying major retailers. They also include a major interest in the Hull-based trawler Kirkella, Britain’s last distant water fishing vessel.

The deal leaves Samherji in Iceland clear to concentrate on its large deep sea fishing fleet and its ambitious fish farming plans, which include building a large land based salmon farm in the south west of the country.

A statement from Samherji Iceland said: “The domestic and foreign activities of Samherj hf. was separated into two independent companies, Samherji and Samherji Holdings in 2018.

“Subsequently, the subsidiary of Samherji Holdings, Öldu Seafood, with headquarters in the Netherlands, was entrusted with the operation of the activities related to the fishing industry in Europe and North America. The ownership remained unchanged.

An agreement has now been reached on the sale of the assets of Öldu Seafood to another Dutch company under the management and majority ownership of Baldvin Thorsteinsson.”

The new company will now hold Álda Seafood’s holdings in fishing companies in Europe and North America.”

The statement added: “Samherji started operations on foreign soil in 1994. We believed then and in fact still believe that the knowledge and experience that resides in the Icelandic fishing industry should be used more widely.

“We exported our knowledge of fishing and processing, on board ships and ashore, but in addition, Samherji Holding has directed its business to Icelandic companies to a large extent during these decades.”

The trawler Kirkella