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Provider: Reuters Investment Profile
Provider: Auerbach Grayson & Co., Inc.

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Bakkafrost P/F Acquires Faroe Seafood UK Limited

Monday, 10 Dec 2012 04:19am EST 

Bakkafrost P/F announced that it has signed an agreement to acquire the sales company Faroe Seafood UK Limited. Faroe Seafood UK Limited is a trading company in Grimsby, the United Kingdom, selling primarily salmon but also other species of fish into the United Kingdom market. The gross turnover for 2012 is expected to be approximately GBP 4.5 million and profit before tax of GBP 150,000. The company employs a total of four people, whereof three are in the sales department. The plan is that they will all continue within the company. Faroe Seafood UK Limited has been trading salmon from Bakkafrost prior to the acquisition. Together with this acquisition the sales manager for Faroe Seafood UK Limited, Mr. Simon P. Jacobsen, has been appointed sales manager for the Bakkafrost Group. The transaction is expected to be completed following the approval from the authorities. 

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16 Apr 2014