The acquisition by Westman Islands company Vinnslustöðin (VSV) of processing company Leo Seafood and fishing company Ós, which operates trawler Thórunn Sveinsdóttir, has been concluded following approval by Iceland’s competition authority.
Leo Seafood and Ós have been in the ownership of skipper and owner Sigurjón Óskarsson and his family.
The acquisition was agreed back in January subject to approval. Neither the competition authority nor the Directorate of Fisheries raised objections. The acquisition of the two companies by Vinnslustöðin takes effect today.
The companies between them hold roughly 7% of the overall quota in cod-equivalent terms, well below the 12% quota ownership ceiling.
‘We intend to continue to operate Thórunn Sveinsdóttir with its current crew and no changes are anticipated to the running of Leo Seafood. These are excellent, well-run companies that Vinnslustöðin is acquiring,’ said VSV managing director Sigurgeir B. Kristgeirsson.
‘We are excited about this new chapter in our company’s history and are confident that this acquisition will be a great success for everyone involved. This agreement is the largest of its kind in Vinnslustöðin’s history. We are acquiring approximately 1% of the country’s quota in cod-equivalent terms, and we are adding a hundred new staff to the VSV group, which already has 370 people on its payroll.’
Thórunn Sveinsdóttir VE-401 is one of the famous names in the Westman Islands fishing industry, with a reputation for successful fishing over many years.
The current Thórunn Sveinsdóttir was built at Karstensens Skibsværft and delivered in 2010. Built as a 39.95 metre twin-rig fresher trawler with an 11 metre beam and an MaK 8M20 main engine, it was subsequently lengthened to a 46.73 metre overall length, increasing its fishroom capacity.
