Reykjavik, Iceland-based fisheries company Brim hf has completed the acquisition of a 50%-share in Polar Seafood Denmark A/S.
The deal between a newly-established holding company owned by Brim and private companies held by Helge Nielsen, Bent Norman Petersen, and Louise Schov Petersen was initially announced on 21 October 2022, with Brim advising that it was for existing shares worth €33 million plus €51 million worth of new shares.
The remaining half of the company will be owned by Polar Seafood Greenland.
Nuuk Greenland-headquartered Polar Seafood Denmark processes and exports wild seafood from the North Atlantic Ocean. Annual turnover in 2021 was €510 million with profits after tax of €31 million.
It was also advised that following the sale Helge Nielsen will retire as managing director of Polar Seafood Denmark to be replaced by Henrik Leth who has served as chair of the board.
