Icelandic Seafood is an international company with a rich history that spans 75 years in Icelandic Fisheries. It has grown and strengthened throughout the years and is now a network of processing, sales and marketing companies, each operating in own market in Europe and U.S.
Icelandic is also the parent company of ITH (Icelandic Trademark Holding), which owns the trademarks ‘Icelandic’ and ‘Icelandic Seafood’ and handles all the marketing and services to license holders and other producers in Iceland.
Fish was Iceland’s most important export throughout the last century, and it remains so today. Processing at first consisted in curing and salting, but towards the middle of the century freezing was introduced and was to become a widespread alternative to the earlier processing methods as an excellent way of getting raw materials in the freshest possible state to distant markets.
Icelandic Group, formerly Icelandic Freezing Plants Corporation, was founded in 1942. At the time, it was owned by its members and its objective was to sell their products on the basis of mutual undertakings concerning product delivery and sales.
The corporation was reformed as a limited liability company in 1996 and later listed on the Iceland Stock Exchange. In 2008, it was de-listed. The mutual obligation concerning delivery and sales was eventually discontinued and arm’s length business with producers introduced in its place.
Today, Icelandic is a holding company that manages the company’s subsidiaries’ in the United Kingdom, and They both specialise in the production and sale of seafood. Icelandic is also the parent company of ITH (Icelandic Trademark Holding), which owns the trademarks ‘Iceland’ and ‘Icelandic Seafood’ and handles all the marketing and services to license holders and other producers in Iceland.
In the United States Icelandic Group holds the license, in cooperation with Highliner Foods, to sell products under the trademark ‘Icelandic Seafood’ to the hotels and restaurants market.
In Spain, Icelandic has a brand licence agreement with Solo Seafood, owner of Icelandic Iberica which is one of the largest seller and distributor of lightly salted cod from Iceland, as well as other frozen marine products. The company sells marine products to more than 4,000 customers in five countries in Southern Europe.
Icelandic Group is 100% owned by the Iceland Enterprise Investment Fund (FSÍ). FSÍ is a private equity fund that is owned by 16 pension funds, Landsbankinn and VÍS.