Seafood giant buys significant stake in shipping operation
Eimskip's Lagarfoss arrives into Immingham on her maiden sailing in August 2014. Picture: David Lee Photography Ltd.
By Grimsby Telegraph | Posted: 20 Jul 2018
The parent company of a growing Grimsby seafood firm has bought a 25 per cent share in the shipping company that brings the fish to the town.
Icelandic-headquartered Samherji Holding has acquired all the shares held by US investment fund Yucauipa in Eimskip, for a figure of around £77 million.
A vertically integrated seafood company, it owns Ice Fresh Seafood in Grimsby, which last year expanded significantly on South Humberside Industrial Estate, taking the former deli and meals site of Seachill on Estate Road Five.
Samherji also controls a significant volume of fishing quota, operating a powerful fleet of fishing vessels, including freezer and fresh fish trawlers, as well as multi purpose vessels, further factories and fish farming operations. It also runs extensive sales and marketing operations which are co-ordinated at the company’s head office in Akureyri.
“Eimskip is a deep-rooted company with a solid infrastructure, well experienced staff and a good fleet,” said Samherji chief executive Thorsteinn Már Baldvinsson, stating the two companies had been operating in the same areas in recent years. “Eimskip is an international carrier and based its business on good customer service operations and fleet in the North Atlantic.
“We know in many ways quite well, the operation of ships and the importance of transport in an international environment. It will be both challenging and gratifying to participate in building our future in co-operation with other shareholders.”
Eimskip’s newest vessel, Lagarfoss, is a regular visitor to Immingham, so too sister vessel Bakkafoss, with three quarters of the supply into Grimsby coming from Iceland, and the vast majority by container carried on either.
World's leading electric vehicle manufacturer commits to Hull's 200m energy park plan