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HB Grandi Buys Vignir G Jonsson

31 October 2013

ICELAND - The boards of HB Grandi Ltd and Vignir G. Jonsson Ltd have approved the acquisition of HB Grandi all shares in Vignir G Jonsson hf.

Vignir G Jonsson is just over 40 years old, efficiently well-run company located in Akranes specializing 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.

TheFishSite News Desk

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