Eðalfang ehf.'s acquisition of a majority stake in 101 Seafood ehf.

On 5 June 2023, the Competition Authority was notified of Eðalfang ehf.'s acquisition of a 50.11% stake in 101 Seafood ehf.

Eðalfang is a holding company. The company holds shares in three companies: Brimilshólar ehf., Norðanfisk ehf. and Eðalfisk ehf. The group specialises in the further processing of seafood into catering and consumer packaging, as well as related activities. The company is based in Akranes and Borgarnes.

101 Seafood is an import and sales company specialising in seafood. The company specialises in the import of shellfish, such as frozen and live lobster, crabs and abalone, as well as purchasing whitefish on the domestic market. The aforementioned products, and others, are intended for further processing and sale to commercial kitchens and other clients.

The merging parties state that a potentially affected market could be the packaging of seafood for the foodservice and consumer packaging sectors, in line with previous decisions of the regulator. The merging parties consider it likely that the market would be deemed to be confined to the entire country.

The Competition Authority did not find that the merger in question would lead to the creation or strengthening of a dominant position, or that the merger would otherwise significantly distort competition, in accordance with Article 17(c) of the Competition Act. For these reasons, the Authority concluded that there were no grounds to take action in this matter under Article 17(c) of the Competition Act, thereby concluding the first-phase investigation.