SISA will acquire an additional 5% over the coming years.
SISA Pension
SISA Pension has confirmed the acquisition of 5% of the shares in Polar Seafood Greenland A/S, becoming the first external owner in the history of Greenland's largest privately owned company. The intention is for SISA to acquire an additional 5% over the coming years.
This agreement marks a historic shift, as ownership was previously divided between two families. From now on, 44,000 Greenlandic pension savers will become co-owners of the company, helping to pave the way for a more economically and socially sustainable future.
"For us at SISA, the investment is not just about returns - it is about securing Greenlandic jobs, strengthening the country's most important industry, and creating co-ownership for our members. Polar Seafood is a cornerstone of Greenlandic fisheries, and we are proud to be able to contribute to the company's continued development," explained Jess G. Berthelsen, Chairman of the Board of SISA Pension.
Regarding future plans, Polar Seafood Director Bent Salling said: "We take the new fisheries act seriously and are contributing to broader participation in our shared resources through the partnership with SISA. We look forward to continuing our development with a partner who shares our values and vision for a strong and value-generating Greenlandic fishery."
Greenland's fisheries legislation was updated for the first time since 1996 in May 2024, introducing individually transferable quotas for inland fisheries and establishing a quota cap for offshore fisheries. It also introduced a new five-year residency requirement for fishermen and mandates 100% Greenlandic ownership.
Polar Seafood Greenland A/S was founded in 1984 and has since grown to a billion-dollar turnover, and today consists of, among other things, 8 ocean-going factory trawlers, 4 coastal shrimp vessels, 3 coastal crab vessels, 6 procurement/production facilities, and approx. 600 employees in Greenland. In addition, the group is active in Norway, Iceland, and Denmark.