Brim

Overview
News
Sustainable Aquaculture?
Product stageSegments
Expansion
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Farming (Finfish)
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Brim is a prominent Icelandic fishing company engaged in groundfish and pelagic fishing, processing, and marketing operations. The company integrates various aspects of the seafood industry, employing approximately 800 full-time workers across its sea and land-based operations as of July 2023. Brim emphasizes corporate social responsibility, sustainable fisheries practices, and innovation in its operations. The company operates processing facilities in different locations across Iceland, including a groundfish processing plant in Nordurgard, Reykjavík. In October 2023, Brim announced the closure of its whitefish processing plant in Hafnarfjördur, citing changing market conditions and reduced cod catch quotas in Iceland as contributing factors.

Brim has been expanding its presence in the global seafood market through strategic acquisitions and investments. In April 2023, the company completed the acquisition of a 50% stake in Polar Seafood Denmark for DKK 625 million (USD 92 million), strengthening its sales network, particularly in Southeast Asia. This acquisition followed Brim's earlier investment of EUR 85 million in Greenland-based Arctic Prime Fisheries in 2020. In September 2023, Brim further expanded its portfolio by acquiring a 10.83% share in Iceland Seafood International (ISI) for over ISK 1.6 billion, aiming to strengthen its sales network in Europe.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
Reykjavík ISL
Founded year:
1985
Employees:
501-1,000
IPO status:
Public
Total funding:
USD 241.9 mn
Last Funding:
USD 241.9 mn (Post IPO Debt; Jun 2023)
Last valuation:
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