Samherji´s German subsidiaries buy shares in Nergaard in Norway

Samherji's German subsidiaries, Icefresh GmbH in Frankfurt and Cuxhavener Reederei GmbH in Cuxhaven have acquired a 20% share in the Norwegian company Nergaard AS, which is one of the largest seafood companies in Norway.

Nergaard AS has a long history in the Norwegian fisheries and is an integrated fishery group whose business activities include fishing, processing and sale of seafood products. The group operates five trawlers and a few production companies in North Norway, with headquarters in Tromsø. The yearly turnover of Nergaard has been close to 35 billion ISK per year and it´s processing factories have processed nearly 50,000 tons of whitefish and 100,000 tons of pelagic fish per year. The company's products include frozen and fresh ground fish, salted fish, dried fish, frozen herring, capelin and mackerel.

Samherji began participation in the German seafood industry in 1994. The operations have been successful, operating trawlers fishing in the North Atlantic. Director of the German fishing enterprises is Haraldur Grétarsson.

Icefresh GmbH was founded in Cuxhaven in 2004 with the purpose of processing and marketing fresh fish for the German market. The company has grown rapidly and has acquired a strong position in the German market for fresh fish. In 2012 Icefresh moved all its activities to Frankfurt. This year´s turnover is estimated around 10 billion ISK and processed raw materials around 15,000 tons. The company's growth has been remarkable and investment in Nergård is a logical continuation since over 80% of the turnover stems from Norwegian fish and fish landed in Norway. The MD of Icefresh GmbH is Sigmundur Andrésson.