Iceland Seafood International

What Iceland Seafood International does

Iceland Seafood International hf, founded in 1932 and headquartered in Reykjavík, is a publicly traded (Nasdaq Iceland: ICSEA) worldwide sales, processing, and marketing group for seafood products, offering fresh, frozen, salted, dried, and value-added categories. The group operates through seven wholly owned subsidiaries covering Iceland Seafood Iceland (export), Iceland Seafood Germany (Bremerhaven), Iceland Seafood France (Boulogne Sur-Mer), Iceland Seafood Ibérica (Spain, Italy, Portugal, Greece), Oceanpath (Ireland, three companies with specialized factories), Achernar (Argentinean red shrimp), and Ahumados Domínguez (premium smoked salmon in Spain). It runs 6 value-added factories across 10 businesses in 6 country locations, sourced from Icelandic waters as well as global origins.

Revenue is generated through B2B transaction-fee-based product sales to enterprise foodservice buyers and retail customers across European and select South American markets. Go-to-market relies on direct subsidiary-led sales and recurring participation in major seafood trade shows (Seafood Expo Global, CONXEMAR, Fish International, China Fisheries & Seafood Expo). The customer base is anchored in foodservice distribution and retail (with La Sirena named as an MSC partnership), with no disclosed subscription, SaaS, or tiered pricing—pricing is negotiated per contract on a B2B basis.

FY2025 revenue reached EUR 484.3M (+9% YoY), with net profit surging 164% to EUR 7.4M on all-time high cod prices and improved margins. Q1 2026 sales of EUR 146.0M (+22.4% YoY) and Q1 2026 net margin of EUR 13.2M (vs. EUR 12.4M prior year) extend the momentum. The company has reshaped its portfolio since 2021: it acquired Ahumados Domínguez (2021), divested Iceland Seafood UK to Espersen (2023), appointed a new CEO and CFO (2023–2024), expanded into Argentine red shrimp via Achernar/Thorpesca for $5.8M (2024–2025), signed an offer letter for two freezer trawlers with fishing permits (July 2025), and refinanced EUR 27.6M of short-term debt via a new bond (April 2025).

Name

Iceland Seafood International

Legal name

Iceland Seafood International hf

Website

https://icelandseafood.com

Company type

Public

Founded year

1932

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Iceland Seafood International hf is a Reykjavík-headquartered, Nasdaq Iceland-listed processor and distributor of fresh, frozen, salted, dried, and value-added seafood, selling through seven subsidiaries across six European and South American country markets to foodservice and retail buyers.

Ownership category

akta.pro rank

Product category

Seafood Processing and Distribution

NAICS

Seafood Product Preparation and Packaging (31171), Fish and Seafood Merchant Wholesalers (42446)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Food And Kindred Products (2000)

akta.pro primary industry

Seafood Wholesale (Fresh & Frozen) (AFAIADAD)

akta.pro secondary industries

Primary Seafood Processing (Heading/Gutting/Deheading; Icing) (AFANADAA), Frozen Seafood Meals & Value-Added Seafood (CRADADAG), Smoked, Cured & Salted Seafood (Lox, Kippers, Bacalao) (AFANADAF)

Keywords

• Seafood processing
• Frozen seafood supply
• Smoked salmon production
• Value-added seafood
• Seafood distribution

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Seafood Product Sales: Core revenue from processing and selling a variety of seafood products including fresh, frozen, salted, dried, and value-added seafood. The company sources from Iceland and global origins, serving retail and foodservice markets across Europe.
2. Argentine Red Shrimp Operations: Revenue from the newly expanded Argentine seafrozen shrimp sector through Achernar and Thorpesca subsidiaries, acquired for $5.8 million including fishing permits and vessels.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Iceland Seafood International is a worldwide sales, processing, and marketing group for fresh, frozen, salted, dried, and value-added seafood products. The group sources seafood from Iceland and global origins, operates 6 value-added factories across 6 countries through 10 businesses, and supplies foodservice and retail customers across Europe and South America.

Product overview

Iceland Seafood is a worldwide sales, processing, and marketing group offering a variety of fresh, frozen, salted, dried, and value-added seafood products. The company's operations are organized through seven subsidiary/operating companies: Iceland Seafood Iceland (export from Iceland), Iceland Seafood Germany (fresh seafood in Bremerhaven), Iceland Seafood France (seafood from Iceland and global sources), Iceland Seafood Ibérica (Southern European markets), Oceanpath (Irish seafood operations), Achernar (Argentinean Red Shrimp exporter), and Ahumados Domínguez (smoked salmon producer). The group operates 6 value-added factories across 10 businesses in 6 country locations.

Differentiator

Problem solved

Functional benefit

Brands

• Iceland Seafood Iceland: Export of seafood from Iceland to all main markets around the world
• Iceland Seafood Germany
• Iceland Seafood France
• Iceland Seafood Ibérica
• Oceanpath
• Achernar
• Ahumados Domínguez

Products and services

• Fresh Seafood Fresh seafood sourced from Iceland and global origins, supplied to foodservice and retail customers across European markets via local subsidiaries.
• Frozen Seafood Frozen seafood products, including seafrozen Argentine red shrimp, distributed through subsidiary operations across Europe and South America.
• Salted Seafood Salted seafood products offered as part of the company's diversified seafood portfolio for retail and foodservice channels.
• Dried Seafood Dried seafood products supplied as part of Iceland Seafood's traditional product range.
• Value-Added Seafood Processed and value-added seafood products manufactured through Iceland Seafood's 6 value-added factories across Europe, including branded offerings for retail customers.
• Premium Smoked Salmon

Quantifiable outcome

• 164% net profit surge in 2025 driven by high cod prices and improved margins
• +1 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Espersen A/SminorOthers · 1 January 2021Espersen A/S acquired 100% of the share capital of Iceland Seafood UK (IS UK) from Iceland Seafood International. This was a divestiture rather than a partnership - the company exited the UK market from a value-added perspective.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• High Liner Foods: North American frozen seafood processor and marketer supplying retail/foodservice with branded and private-label seafood — comparable value-added frozen seafood B2B model to Iceland Seafood's value-added factories.
• Espersen A/S: Danish value-added seafood processor and direct acquirer of Iceland Seafood's UK subsidiary in 2023. Highly comparable as a European value-added seafood company serving foodservice and retail with similar species mix (cod, whitefish).
• Pescanova: Spanish-headquartered seafood processor and distributor with broad frozen and value-added product lines sold across Southern Europe — directly overlaps with Iceland Seafood Iberica's footprint and retail/foodservice customer base.
• Royal Greenland: Greenland-headquartered seafood processor and global supplier of cold-water species (shrimp, cod, halibut) with value-added processing factories — directly comparable North Atlantic seafood processor/wholesaler serving European markets.
• Clearwater Seafoods: Canadian shellfish and groundfish processor/exporter supplying European and global retail/foodservice — comparable cold-water seafood processor and value-added exporter model.

Broad incumbents

• Nomad Foods: European frozen foods giant (Birds Eye, Iglo) sourcing and selling frozen seafood across major European retailers — overlap with Iceland Seafood's frozen/wholesale value-added business and broad European retail customer base.
• Maruha Nichiro: One of the world's largest seafood companies with extensive processing, cold-chain and value-added operations — serves the same global retail and foodservice seafood customer base that Iceland Seafood targets.
• Thai Union Group: Global seafood conglomerate (Chicken of the Sea, King Oscar) with branded and B2B seafood operations in Europe — comparable broad incumbent competing with Iceland Seafood in European retail/foodservice seafood aisles.
• Mowi ASA: World's largest Atlantic salmon farmer and major seafood supplier to European retail/foodservice — comparable to Iceland Seafood's salmon exposure (via Ahumados Dominguez) and overall European supply footprint.
• Lerøy Seafood Group: Norwegian integrated seafood group with significant salmon and whitefish operations serving European retail and foodservice — comparable species mix and European go-to-market to Iceland Seafood.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/iceland-seafood-international

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries7 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iceland Seafood International