Brim

What Brim does

Brim hf. is a vertically integrated Icelandic seafood company publicly listed on Nasdaq Iceland (ticker BRIM), headquartered in Reykjavík and operating across the full value chain from fishing through processing to international sales. The company holds significant Icelandic Individual Transferable Quotas (ITQs) across seven groundfish species (cod, saithe, Greenland halibut, golden redfish, silver smelt, haddock, redfish) and four pelagic species (mackerel, capelin, herring, blue whiting), totaling approximately 152,000 tonnes of annual catch allocation. Brim operates a fleet of 9 vessels (3 freezer trawlers, 3 ice-fish trawlers, 3 pelagic vessels, and 1 line fishing vessel) and four land-based processing facilities in Reykjavík, Vopnafjörður, Akranes, and Hafnarfjörður, with the Norðurgarður plant in Reykjavík described as one of the most technologically advanced groundfish processing facilities globally, processing catch to finished export product in under 40 minutes using Marel automated systems. Beyond seafood fillets and portions, Brim produces fish meal, fish oil (including human-consumption-certified), roe (through wholly-owned Vignir G. Jónsson), dried fish for the Nigerian market, and holds a 25% stake in Marine Collagen for fish-skin gelatin and collagen. The company's go-to-market is sales-led and B2B, executed through three dedicated in-house sales managers (fresh groundfish, land-frozen groundfish, sea-frozen products), wholly-owned Asian sales subsidiaries in Japan, Hong Kong, and China (Icelandic Asia), and Iceland Pelagic serving Eastern European and African markets, reaching customers across Europe, Asia, North America, and Africa. Pricing is set through direct sales negotiations with international buyers with no public pricing or consumer channels. The business model is complemented by sustainability-linked financing (EUR 220M sustainability-linked loan in 2023, Iceland's first combined green/blue bond issuance in 2021), full international certification stack (MSC, IRF, IFS, FEMAS, IFFO, HACCP, GSSI), and recent strategic vertical extension via the 2024 acquisition of LYSI in fish oil and omega-3. Brim was founded in 1985, was renamed from HB Grandi in 2019, and is controlled by Útgerðarfélag Reykjavíkur (43.96% stake as of May 2026), with approximately 800 annual work units (ársverk) across sea and land operations.

Name

Brim

Legal name

BRIM hf

Website

https://brim.is

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Brim hf. is an Icelandic publicly listed seafood company that operates a vertically integrated value chain — fishing, processing, and global B2B sales — across groundfish and pelagic species, serving international distributors and food markets in Europe, Asia, North America, and Africa.

Ownership category

akta.pro rank

Product category

Wild-caught Seafood Processing

NAICS

Seafood Product Preparation and Packaging (311710)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Fishing, Hunting And Trapping (900)

akta.pro primary industry

Seafood By-Products & Fishmeal/Fish Oil Processing (Rendering, Hydrolysates, Collagen) (AFANADAJ)

akta.pro secondary industries

Shellfish Processing (Shrimp, Crab, Lobster, Mollusks) (AFANADAC), Frozen Seafood Meals & Value-Added Seafood (CRADADAG)

Keywords

• Wild-caught seafood
• Frozen fish products
• Fish meal production
• Marine protein processing
• Sustainable fisheries

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Seafood product sales: Brim generates the majority of its revenue from the sale of fresh, frozen, and processed seafood products including groundfish (cod, redfish, saithe, haddock, Greenland halibut, silver smelt) and pelagic fish (capelin, herring, mackerel, blue whiting). Products are sold as whole frozen, fillets, portions, and consumer-ready packaging to markets in Europe, Asia, North America, and Africa.
2. Fish meal and fish oil: Fish meal and fish oil are produced from trimmings and offcuts at dedicated plants in Vopnafjörður and Akranes, using renewable electricity. Products are sold primarily to aquaculture feed manufacturers, and the fish oil plant is certified for human consumption.
3. By-products (roe, collagen): Subsidiary Vignir G. Jónsson on Akranes produces roe products from multiple fish species for European and US markets. Brim holds a 25% stake in Marine Collagen (Grindavík), which produces gelatin from fish skin and is scaling toward commercial collagen production.
4. Sustainability-linked loan financing: Brim secured a EUR 220 million sustainability-linked loan from three international banks, with environmental performance indicators tied to CO2 emissions in fishing operations, reflecting its sustainable financing strategy.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Brim is an integrated Icelandic seafood company that catches, processes, and markets wild-caught fish and marine products. Its portfolio spans groundfish (cod, saithe, Greenland halibut, golden redfish, silver smelt, haddock, redfish) processed at the Norðurgarður plant in Reykjavík; pelagic fish (mackerel, capelin, herring, blue whiting) handled at Vopnafjörður; and by-products including fish roe, dried fish, fish meal, and fish oil. Products are sold as fresh or frozen whole fish, fillets, portions, consumer-ready packs, and meal/oil to international wholesale, food-service and aquaculture-feed buyers across Europe, Asia, North America, and Africa.

Product overview

Brim is an integrated seafood company operating across the full value chain from fishing and processing to sales and distribution. The product portfolio is organized into three main categories: groundfish (7 species: cod, saithe, Greenland halibut, golden redfish, silver smelt, haddock, and redfish), pelagic fish (4 species: mackerel, capelin, herring, and blue whiting), and by-products (fish roe and dried fish). A complementary fish meal and fish oil business rounds out the portfolio. The company also operates several wholly-owned subsidiaries — Vignir G. Jónsson (fish roe processing on Akranes), Fiskvinnslan Kambur (processing in Hafnarfjörður), and Seafood Services (in Reykjavík) — as well as the partially-owned sales companies Icelandic Asia (Asia) and Iceland Pelagic (Eastern Europe/Africa). Products are sold frozen at sea, land-frozen, or fresh, reaching customers worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Groundfish Products Brim's groundfish portfolio comprises seven species — cod (Gadus morhua), saithe (Pollachius virens), Greenland halibut, golden redfish, silver smelt, haddock, and redfish — sold frozen or fresh as fillets, loins, portions, and headed-and-gutted forms. Products are sourced from Brim's own fishing fleet and processed at the Marel-equipped Norðurgarður plant in Reykjavík, moving from catch to export-ready product in under 40 minutes. Intended for international seafood wholesalers, distributors, food-service operators, and processors.
• Pelagic Fish Products Brim's pelagic fish portfolio includes four species — mackerel (Scomber scombrus), capelin (Mallotus villosus), herring (Clupea harengus), and blue whiting (Micromesistius poutassou) — sold frozen at sea or fresh, including whole-frozen, headed-and-gutted, and filleted forms. Processed primarily at the Vopnafjörður facility during seasonal campaigns. Sold B2B to distributors, food-service operators and aquaculture-feed manufacturers, with Iceland Pelagic covering Eastern Europe and Africa.
• Fish Roe and Dried Fish By-Products (Hliðarafurðir) By-products include fish roe (hrogn) from multiple species — capelin, herring, cod, haddock, saithe, Greenland halibut, salmon, and flying fish — processed at Akranes and Vopnafjörður facilities, primarily through the wholly-owned subsidiary Vignir G. Jónsson ehf.; and dried fish (fiskþurrkun) for markets including Nigeria, produced at the Akranes facility under the Laugafisk brand. Target buyers are European, U.S., and African seafood distributors.
• Fish Meal and Fish Oil Fish meal and fish oil produced from trimmings and pelagic species at processing facilities in Vopnafjörður (powered by renewable electricity) and Akranes. Fish meal is sold primarily to aquaculture feed manufacturers; fish oil is certified for human consumption. IFFO-certified. Supplied to feed and bulk-ingredient buyers.
• Vignir G. Jónsson Roe Processing (Wholly-owned subsidiary) Wholly-owned Brim subsidiary on Akranes specializing in full processing of fish roe from Greenland halibut, capelin, flying fish, cod, haddock, saithe, and salmon. Major buyer of Brim's capelin roe and largest buyer of gray and cod roe in Iceland. Serves European and U.S. markets.
• Marine Collagen (Gelatin/Collagen Production) Brim holds a 25% stake in Marine Collagen in Grindavík, which produces gelatin from fish skin (sourced primarily from Brim) for food applications; collagen production is in trial phase with planned commercial scale-up. Output is supplied to food-industry buyers.

Quantifiable outcome

• CO2 equivalent emissions from waste reduced from 486 tonnes in 2017 to 252 tonnes in 2022
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Vignir G. Jónsson ehf.coreOthersA wholly-owned Brim subsidiary located on Akranes. Specializes in full processing of roe from multiple fish species including capelin, herring, cod, haddock, saithe, and salmon. It is a major buyer of Brim's capelin roe and the largest buyer of gray and cod roe in Iceland. Main markets are Europe and the United States.
• Marine CollagenminorStrategic or Co-development PartnerBrim holds a 25% stake in Marine Collagen in Grindavík. The company produces gelatin from fish skin (primarily sourced from Brim) for food applications, with commercial collagen production planned. Founded in joint partnership with Samherji, Vísir, Þorbirni, and Spanish partner Junca Gelatines.
• Iceland PelagiccoreChannel Partner/ Reseller/ DistributorBrim owns approximately one-third of Iceland Pelagic ehf., a sales company that sells frozen pelagic products (capelin, herring, mackerel, blue whiting) to markets primarily in Eastern Europe and Africa. Website: www.icepel.is, Phone: +354 470 0070.
• Icelandic AsiacoreChannel Partner/ Reseller/ DistributorBrim acquired full ownership of its Asian sales companies (Icelandic Japan KK, Icelandic Hong Kong Ltd., and Icelandic China Trading Co. Ltd.) in 2019, forming a consolidated Asian sales operation. Handles sales of all Brim products in Asia. Contact: [email protected], Phone: +81 03 5472 0450.
• Fiskvinnslan Kambur ehf.minorOthersSubsidiary of Brim operating a fish processing facility in Hafnarfjörður, Iceland. Acquired by Brim in 2019 as part of its expansion.
• Seafood Services ehf.minorOthersA Brim subsidiary providing services to seafood operations, located in Reykjavík.
• Global Sustainable Seafood Initiative (GSSI)minorStrategic or Co-development PartnerBrim (as HB Grandi) is a funding partner of the Global Sustainable Seafood Initiative (GSSI), which aims to increase transparency in seafood sustainability certifications and facilitate informed consumer choices. Brim joined as a founding partner alongside five other seafood companies in 2016.
• Guðrún Þorkelsdóttir ehf.minorOthersBrim holds 50% in Guðrún Þorkelsdóttir ehf., which operates the pelagic vessel Guðrún Þorkelsdóttir SU.
• Festa — Centre for Corporate Social ResponsibilityminorOthersBrim (as HB Grandi) joined Festa, the Icelandic knowledge centre for corporate social responsibility, in 2014. Festa is an advisory hub for businesses on sustainability and community responsibility.
• Hafnir — Centre of Excellence for Sustainable Use and Protection of the SeaminorStrategic or Co-development PartnerBrim is a founding member of Hafnir, a centre of excellence for sustainable use and protection of the sea. Founded in 2014 alongside other Icelandic seafood companies.
• MarelcoreTechnology or IntegrationMarel is the primary equipment supplier for Brim's processing plants. Brim uses Marel systems for water-cutting, automated grading, filleting, and portioning. Long-standing partnership dating to the 1990s with ongoing equipment upgrades.
• Skaginn 3XcoreTechnology or IntegrationSkaginn 3X on Akranes supplies and installs key processing equipment for Brim's vessels and plants, including automated loading systems, RSW cooling systems, and drying bands for capelin roe processing. Partnership spans new vessel builds and retrofits.
• Yggdrasill Carbon ehf.minorStrategic or Co-development PartnerBrim signed a cooperation agreement with Yggdrasill Carbon ehf. in 2023 related to Brim's carbon sequestration project in Vopnafjörður, working with Vopnafjörður municipality and the Ministry of Environment, Energy and Climate to achieve carbon neutrality in the municipality.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Lerøy Seafood Group: Norwegian integrated seafood major spanning farmed Atlantic salmon and whitefish. Competes with Brim across European retail and food-service channels and overlaps on value-added seafood processing.
• Nissui (Nippon Suisan Kaisha): Japanese integrated seafood major with global sourcing, processing, and value-added operations. Competes with Brim (and also sources from Brim via Icelandic Asia) across Asian groundfish and pelagic markets.
• Thai Union Group: Global seafood conglomerate (Chicken of the Sea, John West, King Oscar). Competes with Brim in value-added frozen seafood, shelf-stable seafood, and global retail channels.
• High Liner Foods: North American value-added frozen seafood processor sourcing and selling whitefish and specialty products. Competes with Brim for North American retail and food-service supply contracts.
• Mowi: World's largest Atlantic salmon producer with growing whitefish and value-added operations. Competes with Brim for protein-share inside European and North American retail and food-service channels.
• Austevoll Seafood: Norwegian vertically integrated seafood group with wild-catch, aquaculture, and processing/processing-vessel operations. Comparable to Brim as an integrated pelagic and whitefish player with global sales reach.
• Maruha Nichiro: Japan's largest seafood company combining global sourcing, processing, and distribution. Buys from and competes with Icelandic producers like Brim across groundfish and pelagic categories in Asia.

Direct peers

• Vísir hf: Icelandic fishing and processing company with quota holdings across multiple groundfish and pelagic species, serving many of the same international buyers as Brim. Direct competitor inside the Icelandic ITQ system.
• Samherji: Iceland's largest privately held integrated seafood company operating wild-catch, processing, and global sales across groundfish, pelagic, and value-added products. Direct competitor to Brim across Iceland's ITQ system and key export markets.
• Royal Greenland: Greenlandic/Danish integrated seafood major harvesting and processing cold-water groundfish and shellfish from the North Atlantic. Competes with Brim for European retail and food-service buyers on similar species.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/brim.hf
• Instagraminstagram.com/brimhf
• LinkedInlinkedin.com/company/brimhf

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors2 records

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

M&A1 record

Investments

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

Frequently asked questions about Brim