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Iceland Seafood International hf: ISI Subsidiary Signs Offer Letter for Acquisition of Two Freezer Trawlers with fishing permits

Written by Customer Service on . Posted in Public Companies.

THORPESCA S.A.S., a newly established Argentinian subsidiary of Iceland Seafood Ibérica, has signed an offer letter from FOOD ARTS S.A. for the acquisition of two freezer fishing vessels, ENTRENA UNO and ENTRENA DOS, including their respective fishing permits and historical fishing rights. The total purchase price is USD 5.8 million.

Iceland Seafood Ibérica already operates in Argentina through its subsidiary Achernar, founded in 2012 as a seafood processing and trading company. Since its acquisition by Icelandic Ibérica in 2017, Achernar has undergone substantial investment and modernization, particularly at its processing facility in Puerto Madryn. Achernar is a recognized specialist in land-frozen Argentine Red Shrimp, prized for its vibrant color, delicate texture, and rich flavor, harvested from the South Atlantic. It is also one of the few companies certified by the Marine Stewardship Council (MSC) for sourcing Rawson shrimp sustainably.

Strategic Importance of the Acquisition

The purchase of these two vessels supports Iceland Seafood Ibérica’s long-term strategic goals, especially its focus on strengthening operations in Argentina and expanding sales capabilities. The investment leverages the company’s deep experience in land-frozen shrimp and enhances access to sea-frozen shrimp, a premium product category that typically commands higher market value and offers broader commercial potential.

Ownership of the trawlers provides direct control over raw material sourcing and enables vertical integration in the wild shrimp value chain. This move enhances supply chain resilience, supports current land-based processing operations, and opens new avenues for selling higher-value, sea-frozen shrimp.

The acquisition is part of Iceland Seafood International’s (ISI) strategic roadmap approved in 2024, which prioritizes targeted investments in Argentina to reinforce the group’s regional footprint.
This acquisition represents a significant step forward in strengthening Iceland Seafood Ibérica’s operational capabilities, supply chain integration, and competitive position in the global shrimp market.

For more information:
Iceland Seafood International hf.
http://www.icelandseafood.com/Investors
Ægir Páll Friðbertsson – apf@icelandseafood.com

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