Baldvin Thorsteinsson acquires the foreign operations of Samherji Holding
A Dutch company owned by Baldvin Thorsteinsson has reached an agreement on buying the assets of Alda Seafood Holding and will therefore acquire the foreign operations of Samherji Holding. Mr Thorsteinsson has been managing the business for the past few years as the CEO of Alda Seafood Holding.
In 2018 the domestic and foreign operations of Samherji were separated into two independent companies, Samherji hf. and Samherji Holding ehf. Subsequently, all assets related to the fishing industry in Europe and North America were transferred under Alda Seafood, a subsidiary of Samherji Holding. The ownership remained unchanged.
An agreement has now been reached on the sale of the assets of Alda Seafood to a Dutch company under the management and majority ownership of Baldvin Thorsteinsson. Pending routine procedures and approvals, the company will control Alda Seafood's holdings in fishing companies in Europe and North America.
Samherji Holding invested in Eimskip hf., a leading transportation company in the North Atlantic, in 2018. The shares in Eimskip have now been transferred to the holding company Seley ehf. which is owned by the same shareholders that own Samherji Holding. Therefore, the shares in Eimskip hf. are not part of the transaction with Mr Thorsteinsson's company.
Thorsteinn Már Baldvinsson, CEO of Samherji Holding:
"Samherji started operations on foreign soil in 1994. We believed then and still believe that the knowledge and experience in the Icelandic fishing industry should be utilised more extensively. We exported our knowledge of fishing and processing on board ships and onshore. In addition, Samherji Holding has to a large extent, directed its business to Icelandic companies during these past decades. Icelandic producers of fishing gear, fish processing equipment and various other supplies have benefited from the growth of our foreign operations. This policy has been successful and effective and has sparked business relationships between Icelandic industrial companies and the fishing industry in several countries."
Baldvin Thorsteinsson, CEO of Alda Seafood:
"The operations of Alda's companies stand on strong foundations; the companies employ skilful and capable workers, and the vessels are well equipped. I have the utmost faith in the business and am confident there are still opportunities for expansion in our current markets. I have been managing this business from the Netherlands since moving there. That will not change, but now I have an exciting opportunity to manage the operations under my own company and brand."
Thorsteinn Már Baldvinsson, CEO of Samherji Holding:
"Because these are primarily European companies and the operations are entirely abroad, it is natural that the company's headquarters will remain in Europe and the business is managed from there. It is vital that the ownership is in the hands of an individual who can manage it closely and is willing to focus on its continuous growth. We wish Baldvin Thorsteinsson all the best in that journey. We are confident that the company will prosper under his management alongside the company's excellent employees."
