Iceland Seafood International Expands Operations with New Investment

Iceland Seafood International Strengthens Its Investment Strategy

THORPESCA S.A.S., a newly established Argentine subsidiary of Iceland Seafood Ibérica, has officially entered into an agreement with FOOD ARTS S.A. to acquire two freezing trawlers, ENTRENA UNO and ENTRENA DOS, along with associated fishing licenses and historical fishing rights. The total purchase price amounts to 5.8 million USD.

Enhancing Seafood Operations in Argentina

Iceland Seafood Ibérica is already operational in Argentina through its subsidiary Achernar, founded in 2012 as a seafood processing company focusing on manufacturing and product sales. Following Iceland Seafood Ibérica's acquisition of Achernar in 2017, the company has seen significant enhancements and modernization, particularly at its processing facility in Puerto Madryn. Achernar is renowned for its production of wild shrimp, which enjoys considerable demand due to its color, texture, and flavor. The shrimp is caught in the South Atlantic; Achernar stands out as one of the few companies with MSC certification (Marine Stewardship Council) for sustainable wild shrimp fishing during the Rawson fishing season.

The Strategic Importance of the Purchase

The acquisition of these two trawlers aligns with the long-term goals of Iceland Seafood Ibérica, primarily aimed at strengthening the company's operations in Argentina and expanding the supply of Argentine shrimp. With these investments, the company utilizes its extensive experience in land-freezing wild shrimp, increasing access to high-quality frozen seafood products that command a higher market value.

Direct Access to Quality Resources

Owning the trawlers provides direct access to raw materials and fosters vertical integration within the supply chain of wild shrimp. This bolsters the supply chain, supports existing land operations, and opens new sales avenues for more valuable frozen seafood products.

Aligning with Strategic Initiatives

This acquisition is part of the strategic initiatives of Iceland Seafood International (ISI) sanctioned in 2024, emphasizing targeted investments in Argentina to solidify the group's position and current operations in the region.

Boosting Competitive Edge in the Global Shrimp Market

The investment represents a significant milestone in enhancing the operational capacity of Iceland Seafood Ibérica, reinforcing its supply chain integration and the company's competitiveness in the global shrimp market. Such moves highlight Iceland Seafood’s commitment to not only expanding its footprint in Argentina but also ensuring sustainable practices that meet global seafood standards.

Future Prospects for Iceland Seafood

With these strategic steps, Iceland Seafood International is well-positioned for future growth and innovation in the seafood sector. By strengthening its operations and supply chains in Argentina, the company aims to deliver high-quality seafood products that meet the needs of today’s consumers while ensuring environmental sustainability.

Frequently Asked Questions

What is the primary aim of the recent acquisition by Iceland Seafood?

The acquisition aims to strengthen operations in Argentina and enhance access to high-quality seafood products, primarily Argentine shrimp.

How does this acquisition benefit Iceland Seafood’s supply chain?

It allows for vertical integration, providing direct access to raw materials and improving the efficiency of the supply chain for wild shrimp.

What is the importance of MSC certification for Achernar?

The MSC certification demonstrates Achernar's commitment to sustainable fishing practices, enhancing its credibility and market appeal.

Who can be contacted for more information about Iceland Seafood?

For inquiries, Ægir Páll Friðbertsson can be reached via email at apf@icelandseafood.com.

How much did Iceland Seafood invest in this acquisition?

The total purchase price for the two trawlers is 5.8 million USD.

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