Searchill is a leading supplier of frozen fish for UK retailer market. (Image: Icelandic Seachill)
Icelandic Group starts sales process of UK operations
Saturday, April 22, 2017, 01:50 (GMT + 9)
Icelandic Group’s management board has decided to initiate a sale process for its UK fish processing operations, Seachill.
"This sale announcement is no surprise and is a very positive next step for Seachill, its employees and partner customers who place a high value on the business management and strategy," pointed out Simon Smith, chief executive of Icelandic Seachill.
The executive also stressed that the business is in great shape having successfully transitioned both customer and supply base, with a consistent multi year on year profit growth, this is a great performance and means that they enter this process in a strong way and for the right reasons.
Founded in 1998, the business, which employs 750 people, is a leading supplier of chilled fish to the UK retail market and has a strong position in its category, offering a total solution to its customers.
Seachill includes well-invested facilities and an established supply chain and works exclusively with suppliers with access to MSC-certified seafood or those participating in a fisheries improvement programme.
The business is also the owner of The Saucy Fish Co., a four times CoolBrand award winner, which in 2017 entered the frozen retail category and aims to modernize and bring relevance to consumers in the same way it has elsewhere.
Seachill´s revenues totaled GBP 266.3 million in 2016, with EBITDA of GBP 10.4 million.
Íslandsbanki and UK based Oghma Partners have been mandated to manage the sale of all shares in Seachill.
- Icelandic Group sells Belgian subsidiary
- Icelandic Group sells its subsidiary Ný-Fiskur
- Icelandic Group sells Spanish subsidiary to Icelandic producers