With all the required approvals are in place, Polar Seafood’s acquisition of Brim’s 50% stake in Polar Seafood Denmark can be concluded. This places Polar Seafood Denmark wholly in Greenlandic ownership.
‘For us, this is an important milestone. This gives us a simpler ownership structure, shorter decision-making paths and a stronger foundation for developing Polar Seafood based on our Greenlandic roots and values,’ a Polar Seafood representative commented.
‘This gives us even better opportunities to invest long-term in Greenland and continue to take responsibility as a stable partner for employees, fishermen and local communities.’
Polar Seafood was established in 1984 as a sales and marketing company for a number of independently owned Greenlandic prawn trawlers. The company has continued to grow and today has its own trawlers, factories and cold stores.
Icelandic company Brim acquired a 50% stake in Polar Seafood Denmark in 2022 for DKK625 million. This holding is now sold to Polar Seafood Greenland for DKK925 million.
The two companies have stated that they intend to maintain their co-operation.
‘We would like to thank Brim hf. for a good and constructive collaboration over the past three years,’ Polar Seafood’s representative stated.
‘Now we look forward to the next chapter and to continue to develop Polar Seafood with a long-term perspective and with Greenland as our strong foundation.’
