Brim acquires marine oils business for ISK 30 billion
Brim hf’s has confirmed the offer it made to acquire all shares in Lýs hf. for ISK 30 billion has been approved, subject to approval by the companies’ boards of directors, the buyer’s shareholders’ meeting and the approval of the Competition Authority.
In a statement, the Icelandic seafood group said the parties “see significant synergies and opportunities to strengthen Lýsir hf’s raw material position and for Brim to move further up the seafood value chain”.
The purchase price is based on the total value of all shares in Lýs hf. being ISK 30 billion and the interest-bearing debts as of 30 June 2025, which amounted to almost ISK 5.3 billion are deducted. The total purchase price will be paid half in cash and half in shares in Brim, based on its closing price on 23 September 2025, which was ISK 63 per share.
Further details regarding the transaction will be further elaborated in the parties’ purchase agreement, Brim said.
