As announced by the company earlier in the year, Icelandic Group has acquired the Freezing Division of Delpierre in Wimille (formerly SIF France).
In September, Pickenpack Gelmer S.A.S, Icelandic Group's subsidiary, took over the operation of the plant and all reservations regarding the acquisition have been withdrawn.
The purchase agreement covers the plant premises, equipment and current assets, in addition to business contacts. The total acquisition price is approximately €17 million. At the same time, Icelandic Group will take over contracts with the employees of the plant, which employs a total staff of 300.
The turnover of the Delpierre freezing division amounted to €50 million last year with an output of 17,000 tons of products which have mostly been sold in the French market. The plant was taken into use in 1995 and renovated in 2002.
The acquisition of the plant is part of a plan to restructure Icelandic Group's manufacturing operations in Europe. The production of frozen products will be transferred to France from Coldwater UK in Grimsby, which from now on will specialise in the manufacture of chilled and frozen ready meals.
The Icelandic Group plants in Germany and France will be responsible for frozen fish products, and the output of the French plant will be increased from 17,000 to 26,000 tons in the first stage. On the whole, Icelandic Europe's plants will produce over 100,000 tons of frozen products.
