The Icelandic Group, Reykjavik, Iceland, has decided to consolidate management of its three British marketing operations -- Seachill, Coldwater and Icelandic UK -- in order to grow its market share.
"We recognise the importance of the UK, not least because of its highly developed retail market and are keen to take an active part in our continued growth in this territory," said Magnus Bjarnason, president and ceo of Icelandic Group.
Grimsby-based Icelandic Group UK has a turnover of £300 million (EUR 354.5 million) and its manufacturing operations will continue as three discrete business units. It would be second to Young's, the UK's biggest seafood firm with the biggest turnover of £600 million (EUR 708.9 million).
The new unit will be called IGUK, and Malcolm Eley, previously managing director at Seachill, will be CEO, supported by the existing leadership teams. Anita Barker will leave the business but continue to advise the CEO of Icelandic Group and management, and Magni Thor Geirsson will be Managing Director Procurement and Deputy for the combined business.
With a 20% market share, IGUK is a primary and secondary processor of fresh and chilled seafood including wet, coated, ready to cook, ready to eat and ready meals and frozen fish. The three businesses combined supply all the major UK retailers. The consolidation is said to put the company on track to become the industry leader in Britain over the next three to five years.
