HB Grandi Buys Vignir G Jonsson01 November 2013
ICELAND - HB Grandi has acquired all shares in Icelandic fish processor Vignir G Jonsson hf.
Vignir G Jonsson, which is just over 40 years old, is based in Akranes and specialises in full processing of roes.
The company is a major purchaser of capeline roe from HB Grandi and the largest purchaser of lumpfish and cod roe in the country.
Forty-six jobs where done by the company in 2012 and the company´s turnover was 2.4 billion ISK (Icelandic kronas) or around 20 million USD.
The board of HB Grandi has agreed to submit to shareholders a proposal to issue additional shares of 100 million ISK of nominal value to meet the acquisition of all shares of Vignir G Jonsson.
With this acquisition, HB Grandi is strengthening the company´s operations and taking further steps to full processed fish products.
Current owners of Vignir G. Jonsson will continue to manage the company and operate it in its present form but possibility of synergies, such as the sale of products, will be used following the acquisition.
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