February 5, 2018

Licencing agreement

Icelandic Trademark Holding, owner of the brands 'Icelandic 'and 'Icelandic Seafood' and Margildi ehf. have signed a licensing agreement for the marketing and sale of high quality Omega fish oils under the ´Icelandic brand´'in the United States.

Sales and distribution are expected to begin later this year.

Icelandic Trademark Holding (ITH) is the owner of registered trademarks "Icelandic" and "Icelandic Seafood", which focuses on marketing and selling high quality products of Icelandic origin, with licensing partners in the United States, Southern Europe and Iceland.

"We are very excited about this partnership agreement with Margildi and to market their high-quality products under our strong ´Icelandic brand´. Growing interest in the consumer market for Icelandic products has opened the door for greater opportunities for Icelandic products, and such interest helps companies to be able to have a brand and packaging that strongly refer to their Icelandic origin, "said Herdís Fjeldsted, Chairman of Icelandic Trademark Holding.

"In addition to be able to directly associate with the strong image that Iceland has,such as purity and sustainability, this is an exciting market to enter, as research indicates the global fish oil market will reach $2.63 billion by 2020.  Furthermore, we see there is  growing consumer demand the N-American market for omega 3 owing to its benefits for physical as well as mental wellbeing, where 67% of consumers at the age of 18-34 say they buy more of healthy foods then they did a year ago.“ Said Herdís Fjelsted, Chairman of Icelandic Trademark Holding.

Margildi is an Icelandic company that specializes in refining fish oils from North-Atlantic pelagic species like e.g. capelin, herring and mackerel. It’s core competency is a new and unique quick winterization process that enables refining of fish oils with high stearin content. This was not possible nor feasible with conventional winterization techniques until Margildi developed its patented process.

Snorri Hreggviðsson, Director of Margildi, said on this occasion: "With increased consumer awareness on the importance of increasing consumption of high quality fish (Omega-3), which also meets the requirements of being manufactured from pure and sustainable raw materials, we feel there is great potential for  marketing our high quality products under the strong brand name ´ Icelandic´.

Margildi has in the past received innovation grants from Rannís Technology Development Fund, AVS Research Fund, Íslandsbanki and ANR. This partnhership agreement with Icelandic will strengthen sales and marketing of Margildis's products abroad, which have already been sold to the United States, China, New Zealand, Scandinavia, Poland and Lithuania.