Iceland Seafood International subsidiary to acquire two freezer trawlers in Argentina

Iceland Seafood Ibérica's new subsidiary, THORPESCA S.A.S., has signed an offer letter from Argentine fishing company FOOD ARTS S.A. for the acquisition of two freezer fishing vessels, including their respective fishing permits and historical fishing rights.

This purchase, amounting to USD 5.8 million, helps Iceland Seafood Ibérica strengthen its presence in Argentina and leverage its experience in land-frozen shrimp while improving access to sea-frozen shrimp.

"This acquisition represents a significant step forward in strengthening Iceland Seafood Ibérica's operational capabilities, supply chain integration, and competitive position in the global shrimp market," reads the company's statement.

In 2017, Icelandic Ibérica acquired seafood processor and trader Achernar, marking its entry into the Argentine market. This enabled the first phase of investments, including the purchase and transformation of the Puerto Madryn plant, which specializes in processing and exporting Argentine Red Shrimp, known as the "red gold of the South Seas," as well as squid.

Just a few days ago, Iceland Seafood International (ISI) closed Q1 2025 with positive results, and announcing that the Group's refinancing process was nearing completion. Now, the company has confirmed that it has successfully completed that refinancing.