Hilton looks at Icelandic Seachill acquisition

Icelandic Seachill has remained quiet on any potential sale to Hilton, when approached by FoodManufacture.co.uk.

Hilton said it was in the early stages of talks for a potential acquisition, in a statement released to the UK stock market on August 1 evening. The food group – which supplies the UK’s largest supermarket Tesco – had been reported to be in exclusive talks with Icelandic Seachill’s owner, the Enterprise Investment Fund.

‘Hilton notes the media speculation’

“Hilton Food Group notes the media speculation in relation to a potential acquisition, and confirms that it is at an early stage of discussions in relation to such a transaction,” the statement read.

“There can be no certainty at this time whether any agreement on such transaction will be reached, and a further announcement will be made as and when appropriate.”

Icelandic’s potential sale would come after its owner put the business up for sale in April. The sale would include frozen brand The Saucy Fish Co, which entered the frozen retail category earlier this year.

‘A leading supplier’

At the time, the fish processor’s parent company, Icelandic Group, said: “Seachill is a leading supplier of chilled fish to the UK retail market. The company has a strong position in its category, offering a total solution to its customers.”

The Unite union had requested urgent assurances of the future of Icelandic Seachill’s 750 jobs when it was revealed the company would be sold. The union would provide workers with maximum support while talks to sell the business were ongoing, it said at the time.

Meanwhile, last year, Seachill’s revenues totalled £266.3M. Earnings before interest, tax, depreciation and amortisation reached £10.4M.