Iceland Seafood Strengthens Its Position with New Acquisition
In a significant move, THORPESCA S.A.S., the new Argentinian subsidiary of Iceland Seafood Ibérica, has initiated the acquisition process for two freezer fishing vessels named ENTRENA UNO and ENTRENA DOS. This acquisition includes vital fishing permits and historical fishing rights, with a total purchase price set at USD 5.8 million.
Impact of Iceland Seafood Ibérica's Existing Operations
Iceland Seafood Ibérica has a footprint in Argentina through another subsidiary, Achernar, which has been operational since 2012 as a seafood processing and trading entity. Following its acquisition in 2017, Achernar has seen considerable investments aimed at modernizing its operations, particularly at its processing facility in Puerto Madryn. The company has become well-known for land-frozen Argentine Red Shrimp, which is celebrated for its intense color and rich flavor; these shrimp are sourced from the waters of the South Atlantic. Remarkably, Achernar holds one of the few certifications from the Marine Stewardship Council (MSC), emphasizing its commitment to sustainable shrimp sourcing.
Strategic Value of the New Acquisition
Acquiring the two freezer vessels aligns with Iceland Seafood Ibérica's long-range strategic objectives, particularly its ambition to enhance its operations in Argentina and broaden its sales outreach. This investment taps into the company's extensive experience with land-frozen shrimp while opening up opportunities in the sea-frozen shrimp market, recognized for its premium pricing and expanded commercial possibilities.
The Benefits of Direct Control Over Sourcing
The ownership of these trawlers provides Iceland Seafood with direct control over sourcing raw materials, which facilitates vertical integration within the wild shrimp supply chain. This strategy supports operational resilience and boosts current land-based processing capabilities while also paving the way for entering into the valuable sea-frozen shrimp market.
A Step Towards Regional Strengthening
This acquisition is part of the broader strategic framework established by Iceland Seafood International (ISI), which firmly focuses on targeted investments to solidify its regional presence in Argentina. By enhancing operational capabilities, supply chain integration, and overall competitiveness in the global shrimp market, this move highlights Iceland Seafood Ibérica’s commitment to growth and innovation.
For Additional Information
To learn more about Iceland Seafood International hf. and its latest ventures, interested parties can explore their official website for insights into the company’s operations and future endeavors. For inquiries, Ægir Páll Friðbertsson is available via email for further discussion and information.
Frequently Asked Questions
What vessels did Iceland Seafood acquire?
Iceland Seafood acquired two freezer fishing vessels named ENTRENA UNO and ENTRENA DOS.
How much did the acquisition cost?
The total purchase price for the two freezer trawlers is USD 5.8 million.
What is the significance of this acquisition?
This move enhances Iceland Seafood's operational capabilities and strengthens its supply chain for better shrimp sourcing.
What products does Achernar specialize in?
Achernar specializes in land-frozen Argentine Red Shrimp, known for its quality and flavor.
How does the acquisition align with ISI’s goals?
The acquisition supports ISI's strategic roadmap to fortify its operations and sales capabilities in Argentina.
