ACQUISITION OF THE SALES COMPANY FAROE SEAFOOD UK LIMITED

12/10/2012 4:19 AM EST

Bakkafrost has signed an agreement to acquire the 
sales company Faroe Seafood UK Limited. Faroe Seafood 
UK Limited is a trading company in Grimsby, UK, 
selling primarily salmon but also other species of 
fish into the UK market.
The gross turnover for 2012 is expected to be around 
GBP 4.5 million and profit before tax of GBP 150 
thousand. The company employs a total of 4 people, 
whereof 3 are in the sales department. The plan is 
that they will all continue within the company. Faroe 
Seafood UK Limited has been trading salmon from 
Bakkafrost prior to the acquisition.

"The acquisition will give us the benefit of a direct 
route to the UK market for all our products, while 
strengthening our market position, where we can see 
great further potential for our products," says Regin 
Jacobsen, CEO of Bakkafrost. 

Together with this acquisition the sales manager for 
Faroe Seafood UK Limited, Mr Simon P. Jacobsen, has 
been appointed sales manager for the Bakkafrost 
Group. Mr Jacobsen is 48 years old and has an 
extensive career within the business of sales and 
management in the white fish industry as well as sale 
of salmon products to European supermarket chains. 

The transaction is expected to be completed following 
the approval from the authorities. 

For further information please contact:
Regin Jacobsen, CEO of P/F Bakkafrost: +298 23 50 01 
(mobile)

Teitur Samuelsen, CFO of P/F Bakkafrost: +298 23 51 
11 
(mobile)

Glyvrar, 10 December 2012

P/F Bakkafrost 
Bakkavegur 8
PO Box 221
FO-625 Glyvrar
Tel. +298 40 50 00; Fax +298 40 50 00
 
www.bakkafrost.com

About Bakkafrost:
Bakkafrost is the largest salmon farmer in the Faroe 
Islands. The Group is fully integrated from feed 
production to smolt, farming, VAP and sales. The 
Group has production of fish meal, fish oil and 
salmon feed in Fuglafjørður. The Group operates 16 
farming sites located in 15 different fjords. The 
Group has primary processing in Klaksvík, Kollafjørð 
and Strendur, and secondary processing (VAP) in 
Glyvrar and Fuglafjørður. The headquarters are 
located in Glyvrar, and the company has a total of 
525 employees.