FISK-Seafood

What FISK-Seafood does

FISK-Seafood is an Icelandic seafood company founded in 1955, headquartered in Sauðárkrókur, and recognized as one of Iceland's largest seafood enterprises. The company operates a vertically integrated model spanning wild-capture fishing, at-sea freezing, and land-based processing, with a fleet of 8 vessels and processing facilities in Sauðárkrókur, Grundarfjörður, and Skagaströnd. Its principal products are cod (þorskur), haddock (ýsa), saithe (ufsi), and redfish (karfi), with secondary species including Greenland halibut and wolffish; the saltfish line is sold under the Soffaníasi Cecilssonar brand. In 2025, the fleet landed 30,516 tons of fish and produced 12,870 tons of processed products, with primary sales directed at B2B buyers in Southern European markets.

The company's revenue model is based on B2B seafood product sales, with contract-based pricing (not publicly disclosed). Distribution is conducted through direct commercial relationships with European buyers rather than self-serve or digital channels. Core technical assets include sea freezing technology aboard the freezer trawler Arnar HU-1, IFS-certified land processing at Sauðárkrókur, and dedicated saltfish processing at Grundarfjörður. The company holds HACCP quality certification, equal pay certification (since 2019), and publishes annual sustainability reports. FISK Seafood is a subsidiary of Kaupfélað Skagfirðinga, a diversified Icelandic cooperative conglomerate, and operates alongside holding subsidiaries (FISK Seafood fjárfesting ehf, Kiddi Dóra ehf) and minority stakes in feed production (Fóðurblandan hf) and fish trading (ISI hf). The firm employs 259 full-time equivalents and is led by CEO Friðbjörn Ásbjörnsson.

Name

FISK-Seafood

Legal name

FISK Seafood

Website

https://fisk.is

Company type

Private

Founded year

1955

Operating status

Operating

Short description

FISK-Seafood is one of Iceland's largest vertically integrated seafood companies, operating 8 vessels and processing facilities to catch, freeze, and process wild-caught cod, haddock, and saithe for B2B buyers in Southern European markets. The firm, founded in 1955, is a subsidiary of cooperative Kaupfélað Skagfirðinga.

Ownership category

akta.pro rank

Product category

Seafood Processing

NAICS

Fish and Seafood Merchant Wholesalers (42446), Other Marine Fishing (114119)

SIC

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

akta.pro primary industry

Primary Seafood Processing (Heading/Gutting/Deheading; Icing) (AFANADAA)

akta.pro secondary industries

Seafood Wholesale (Fresh & Frozen) (AFAIADAD), Smoked, Cured & Salted Seafood (Lox, Kippers, Bacalao) (AFANADAF)

Keywords

• Wild-caught seafood
• Cod and haddock
• Sea freezing
• Fish processing
• Saltfish production

Headquarters

HQ city

Sauðárkrókur

HQ country

Iceland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Seafood Product Sales: Revenue generated from catching, processing and selling seafood products including cod, haddock, catfish, and other species. Products are sold to markets in Southern Europe. The company operates 8 vessels and processing facilities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

FISK Seafood catches, processes, and sells wild-caught Atlantic fish species, primarily cod and haddock, with secondary species including saithe, redfish, and Greenland halibut. The company operates a fleet of 8 vessels (including a freezer trawler, fresh fish vessels, and isfisk vessels) and three land-based processing facilities in Sauðárkrókur and Grundarfjörður, Iceland. Products are sold to commercial buyers in Southern European markets.

Product overview

FISK Seafood is a single unified seafood processing and fishing operation, not a platform or software product. The company operates as one of Iceland's largest seafood enterprises with three main operational divisions: (1) freezer trawler Arnar HU-1 for at-sea freezing of catches including cod, haddock, saithe, and Greenland halibut; (2) fresh fish processing at Sauðárkrókur with complete codfish processing, freezing, and drying capabilities (IFS certified); and (3) salt fish processing at Grundarfjörður under the Soffaníasar Cecilssonar brand. The product portfolio centers on wild-caught Atlantic fish species, primarily cod (þorskur) and haddock (ýsa), with secondary species including saithe (ufs), redfish (karfi), Greenland halibut, and Wolffish. Annual catch volume is approximately 30,516 tons with 12,870 tons of processed products per year.

Differentiator

Problem solved

Functional benefit

Products and services

• Wild-caught Cod and Haddock Products Wild-caught Atlantic cod (þorskur) and haddock (ýsa) caught, processed, and sold to commercial buyers in Southern European markets. Primary products include fresh, frozen, and dried codfish from the Sauðárkrókur land-based processing facility with IFS certification.
• Sea-Frozen Fish Products Fish caught and frozen at sea aboard the freezer trawler Arnar HU-1, including cod, haddock, saithe, redfish, Greenland halibut, and other species. Production follows HACCP-based quality policy.
• Saltfish Products (Soffaníasar Cecilssonar brand) Saltfish (saltfiskur) produced at the Grundarfjörður processing facility under the Soffaníasar Cecilssonar brand, sold to Southern European markets.

Quantifiable outcome

• Catch volume of 30,516 tons in 2025
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Kaupfélag SkagfirðingacoreStrategic or Co-development PartnerParent company (móðurfélag) of FISK Seafood. Kaupfélag Skagfirðinga has set sustainability policy for the group and is the parent entity overseeing FISK Seafood operations.

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Maruha Nichiro Corporation: Japan's largest seafood company with global fishing, processing and distribution operations including North Atlantic whitefish — comparable in vertical integration and international market reach to FISK's European push.
• Nippon Suisan Kaisha (Nissui): Japanese integrated seafood group operating marine products, processed foods and refrigerated logistics worldwide, comparable to FISK's catch-to-shelf vertical model at a larger global scale.
• Pescanova: Spain-headquartered seafood company specializing in cod, hake and other groundfish products distributed across Southern Europe — a key downstream counterpart/buyer profile for Icelandic exporters like FISK.
• Lerøy Seafood Group: Norwegian integrated seafood group combining salmon aquaculture, wild-catch and processing; broad incumbent over comparable European whitefish and value-added product categories.
• Mowi ASA: World's largest seafood company; while aquaculture-anchored, operates a global seafood portfolio with whitefish processing and European distribution comparable to FISK's downstream model.
• Thai Union Group PCL: Global seafood conglomerate with frozen and value-added seafood brands (Chicken of the Sea, John West) overlapping European retail distribution channels frequented by Icelandic groundfish suppliers.

Direct peers

• Royal Greenland A/S: Greenland-based vertically integrated groundfish processor/exporter with cod, halibut and shrimp operations — a North Atlantic analogue with similar catch-to-finished-product value chain and European buyer overlap.
• Brim hf. Iceland's largest vertically integrated seafood company operating freezer trawlers, fresh fish vessels, and shore processing for cod, haddock and pelagic species — the closest direct comparator to FISK's full-spectrum groundfish model.
• Samherji hf. Major Icelandic seafood group combining offshore fishing, processing and global marketing of cod and other whitefish, with parallel European market exposure and similar quota-driven operating model.
• Iceland Seafood International (ISI hf): Icelandic value-added seafood distributor with global reach into retail and foodservice; FISK retains a minority stake, making ISI both a related party and the most direct channel-overlap competitor in Southern Europe.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about FISK-Seafood