Icelandic Seachill accepts Seagold offer for factory

By Matt Atherton

- Last updated on GMT

Seafood firm Icelandic Seachill accepted an offer from Seagold for one of its facilities
Seafood firm Icelandic Seachill accepted an offer from Seagold for one of its facilities

Related tags Depreciation Icelandic seachill

Icelandic Seachill has accepted an offer from frozen seafood processor Seagold to buy one of its vacant facilities in Grimsby, in a deal that would create jobs.

The deal covered the former facility’s assets only, said Icelandic Seachill. The chilled fish processor said jobs would be created after Seagold – owned by Samherji Group – moved into the site.

Icelandic Seachill ceo Simon Smith said: “We are pleased that local jobs will be created as a result of the purchase by Samherji, and have worked with both Samherji and ​[North East Lincolnshire] Council to facilitate this.”

Chilled fish processor Icelandic Seachill had three facilities, but had reorganised its operations over the past 12 months. Production from one of the sites was integrated into its other two facilities, leaving one vacant.

‘Grow our existing business’

Samherji sales and marketing director Gustaf Baldvinsson said: “This acquisition gives us scope to significantly grow our existing business and consolidate our group’s UK storage and distribution.”

The Unite union welcomed the deal, which was agreed after Seagold outgrew its current facility.

Unite regional officer in Hull Dave Monaghan told “It is good news that a factory that was about to be empty, will be full of workers in the fish processing industry.

“Hopefully the move will create more jobs in the area.”

‘Create more jobs’

Meanwhile, Icelandic Seachill’s owner, Icelandic Group, revealed last month that it planned to sell the business​. The sale would include The Saucy Fish Co, which earlier this year entered the frozen retail category.

Unite sought urgent assurances over the fish processor’s 750 jobs. Icelandic Seachill is one of Grimsby’s largest employers.

Last year, Seachill’s revenues totalled £266.3M. Earnings before interest, tax, depreciation and amortisation reached £10.4M.

The chilled fish processor also supplies prawn cocktails, party foods and fishcakes to the UK retail market. Icelandic Seachill was founded in 1998, and has grown to be “one of the largest chilled fish processors in the UK”​.

Icelandic Seachill/Seagold deal – at a glance

  • Seachill accepts offer for vacant facility from Seagold
  • Deal is for facility’s assets only
  • Jobs to be created from move

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