Icelandic shipping company Eimskip signed an agreement yesterday to buy one of Europe’s largest frozen storage companies, Daalimpex in Holland.
Baldur Gudnason, CEO of Eimskip, says the purchase strengthens the company’s position on the frozen and refrigerated goods shipping market.
The purchase price was not disclosed but Frettabladid reports that the value of harbor property in Holland owned by Daalimpex amounts to ISK 5.5 billion.
Daalimpex’s frozen storage facilities accommodate 220,000 tons, Eimskip’s frozen storage facilities in Iceland are about 7,000 tons.
After the acquisition, the total tonnage of frozen goods moved by Eimskip will double from one million to two million tons per annum. The estimated turnover is ISK 9 billion.
Eimskip purchased 51% of the company from founder Peter Blankendaal who still holds 49%. For the time being he will continue to work at Daalimpex. Eimskip has the option to buy the remaining shares when Blankendaal leaves the company. Peter Blankendaal founded Daalimpex in 1976.
Eimskip is owned by Avion Group. Avion Group plans to go public at the beginning of next year.
Magnús Thorsteinsson, chairman of Avion Group, told Frettabladid that this purchase strengthens Avion Group’s goal to become a leading company in international shipping.