LVF

What LVF does

Loðnuvinnslan hf. (LVF) is a vertically integrated Icelandic seafood company headquartered in Fáskrúðsfjörður, operating owned pelagic and groundfish vessels (trawler Ljósafell SU 70, pelagic vessel Hoffell SU 80, and line fishing vessels Sandfell and Hafrafell) alongside a freezing plant (frystihús) and a fishmeal and fish oil factory (fiskmjölverksmiðja). The company processes catches from its own fleet as well as from Faroese, Norwegian, and other international pelagic vessels landing at its East Iceland site, producing finished seafood products (frozen fish, salted fish) plus fishmeal and fish oil from raw material that would otherwise be waste.

The business model is B2B and quote-based: revenue flows from three streams, namely owned-vessel fishing operations, fee-based processing services for foreign vessels landing at Fáskrúðsfjörður, and direct sales of finished seafood products (with pricing not publicly disclosed). Customers include the Japanese trading house Kyokuyo Co. Ltd., which has purchased herring, mackerel, and capelin since 1995, and Norwegian fishmeal producers acquiring output sourced from vessels such as Wilson Clyde, Saxum, Hav Saga, and Havfrakt. Marketing is limited to the lvf.is website and a Facebook page, consistent with a relationship-driven commodity trade rather than consumer marketing.

Ownership is anchored by Kaupfélag Fáskrúðsfirðinga, a cooperative majority owner founded in 1933, meaning commercial decisions are filtered through cooperative governance and shared leadership (the parent CEO also serves as LVF CEO). The cooperative structure coexists with capital-intensive offensive moves: a freezer trawler acquired in October 2025 from Ós ehf. and renamed Ljósafell SU 70 in February 2026, a 1,300+ sqm pelagic processing facility under construction since September 2025, and ten-year equity growth of 5x to 16 billion ISK with cumulative profit of 14.5 billion ISK.

Name

LVF

Legal name

Loðnuvinnslan hf.

Website

https://lvf.is

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

101–250 employees

Short description

Loðnuvinnslan hf. (LVF) is an Icelandic vertically integrated seafood company operating owned pelagic and groundfish vessels, a freezing plant, and a fishmeal factory in Fáskrúðsfjörður, selling frozen seafood and fishmeal to international B2B buyers including Kyokuyo and Norwegian fishmeal producers.

Ownership category

akta.pro rank

Product category

Pelagic Seafood Processing

NAICS

Fish and Seafood Merchant Wholesalers (42446)

SIC

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

akta.pro primary industry

Fishing Vessels (Trawlers, Longliners, Purse Seiners) (IMAJADAE)

akta.pro secondary industry

Specialty Seafood Co-Products Processing (Roe, Milt, Heads, Frames, Shellfish Meat Recovery) (AFANAJAI)

Keywords

• Pelagic fish processing
• Fishmeal production
• Frozen seafood products
• Commercial fishing operations
• Seafood landing services

Headquarters

HQ city

Fáskrúðsfjörður

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Others

Revenue model

1. Fishing Operations: Direct fishing operations through owned vessels including trawler Ljósafell SU 70 and pelagic vessel Hoffell SU 80, plus processing and sales of catch
2. Fish Processing Services: Processing services for pelagic species including herring, mackerel, capelin, blue whiting (kolmunna) for foreign vessels including Faroese, Norwegian, and other operators; production of fishmeal and fish oil
3. Finished Seafood Products: Production and sale of processed seafood products including frozen fish, salted fish, and specialty products

Distribution channels1 record

Marketing channels2 records

Core offering

LVF (Loðnuvinnslan hf.) is a vertically integrated Icelandic seafood company that catches pelagic species (herring, mackerel, capelin, blue whiting) and groundfish via its own fleet and processes them through an on-site freezing plant (frystihús) and fishmeal/fish oil factory (fiskmjölverksmiðja). The company sells frozen fish, salted fish, fishmeal, and fish oil domestically and internationally, and provides landing and processing services to foreign (Faroese, Norwegian, and other) vessels operating in Icelandic waters.

Product overview

LVF (Loðnuvinnslan hf.) is a traditional fishing and fish processing company based in Fáskrúðsfjörður, Iceland. The company operates in the seafood industry, handling fishing operations, fish processing, and fish meal production. The company receives fish catches from various fishing vessels (including their own fleet vessels like Ljósafell and Hoffell, as well as Faroese and other international vessels), processes them through their freezing plant (frystihús) and fish meal factory (fiskmjölsverksmiðja), and produces fish products including cod, haddock, herring, capelin, and other seafood commodities. LVF is primarily owned by Kaupfélag Fáskrúðsfirðinga (KFFB) and operates as a vertically integrated seafood processing operation.

Differentiator

Problem solved

Functional benefit

Products and services

• Frozen Pelagic Fish Products Frozen pelagic fish products including herring, mackerel, capelin (loðna), and blue whiting (kolmunna), produced at LVF's freezing plant (frystihús) for sale to international seafood buyers in Japan and Europe.
• Fishmeal and Fish Oil Fishmeal and fish oil produced at LVF's fishmeal factory from pelagic raw material, sold to Norwegian fish meal producers and other international buyers (e.g., Wilson Clyde, Saxum, Hav Saga, Havfrakt).
• Frozen Groundfish Products Frozen groundfish products (cod, haddock) processed at LVF's freezing plant for domestic and international seafood buyers.
• Salted Fish Products Salted fish products produced at Loðnuvinnslan's fish processing facilities as a specialty finished seafood line.
• Fish Landing and Processing Services for Foreign Vessels Landing and processing services provided by Loðnuvinnslan to foreign (Faroese, Norwegian, and other) pelagic fishing vessels, covering herring, mackerel, capelin, and blue whiting with downstream fishmeal and fish oil production.

Named customers2 records

Segments1 record

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.

• Kaupfélag FáskrúðsfirðingacoreStrategic or Co-development Partner · 1 January 2023Majority owner of Loðnuvinnslan. Kaupfélag Fáskrúðsfirðinga is a retail and fisheries cooperative established in 1933, owning and managing Loðnuvinnslan as its main subsidiary. The partnership involves shared leadership - the CEO of Kaupfélag Fáskrúðsfirðinga also serves as CEO of Loðnuvinnslan. Kaupfélag has invested heavily in community support, distributing approximately 300 million ISK in community grants over 10 years jointly with LVF.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Brim hf. Icelandic vertically integrated seafood company operating trawlers and pelagic vessels with onshore processing. Direct comparable to LVF — same Icelandic operating environment, same pelagic and groundfish exposure, and former long-term employer of LVF's current CEO.
• HB Grandi hf. One of Iceland's largest vertically integrated fishing and processing companies, with own fleet and shore-side processing across multiple species. Closely mirrors LVF's catch-to-product model and Icelandic operating base.
• Samherji hf. Major Icelandic integrated seafood group with pelagic and groundfish catch, processing, and global sales operations. Comparable to LVF through overlapping species mix, vertically integrated model, and Icelandic regulatory/operating environment.
• Vinnslustöðin hf. (VSV): Icelandic fishing and processing company based in the Vestmannaeyjar (Westman Islands), operating its own fleet and onshore freezing/processing. Similar small-town community-anchored integrated seafood business model to LVF.

Broad incumbents

• Pelagia AS: Large Nordic seafood processor/producer active in pelagic species, fishmeal, and fish oil. Overlaps with LVF's pelagic processing and fishmeal businesses, but at significantly greater scale and broader Nordic geographic footprint.
• Lerøy Seafood Group ASA: Major Norwegian seafood group spanning salmon farming, whitefish, and value-added processing with global distribution. Comparable to LVF in pelagic and whitefish value chain, though significantly larger and salmon-weighted.

Others

• Maruha Nichiro Corporation: Largest Japanese seafood company and a key buyer of Icelandic pelagic species. Connected to LVF as a Japanese end-customer analog to Kyokuyo and as a participant in the same global pelagic supply chain.
• Kyokuyo Co. Ltd. Major Japanese marine products company that has purchased Icelandic herring, mackerel, and capelin from LVF since 1995. Directly comparable in Japanese pelagic demand context and as a long-tenured customer of Icelandic pelagic producers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/lodnuvinnslan.is

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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 LVF