Icelandic company to invest in Newfoundland Skip to content

Icelandic company to invest in Newfoundland

The Icelandic seafood company Vísir hf. has acquired a 30 percent stake in the Canadian seafood company Ocean Choice International (OCI), which is taking over Fisheries Products International (FPI) in Newfoundland.

According to Morgunbladid, holding company Icelandic Group owns a 15 percent stake in FPI’s mother company. FPI’s annual turnover is ISK 10 billion (USD 161 million, EUR 120 million).

OCI is not listed a company, so its turnover is unknown.

FPI mostly processes shrimp, scallops, crab and flatfish. Vísir, which is headquartered in Grindavík, southwest Iceland, would contribute with experience in fishing and processing groundfish.

Vísir’s management would not reveal the price of its investment in OCI or FPI.

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