Västkustfilé - Insula AS acquires Västkustfilé AB Seafood Company
Västkustfilé
 
2 may 2016

Insula AS acquires Västkustfilé AB Seafood Company

Seafood Group Insula AS has entered into an agreement to purchase 100 % of the shares of the Swedish seafood company Västkustfilé AB. With this purchase, the Group strengthens its presence in Sweden as well as its position as a seafood supplier in the Nordic region.

Västkustfilé AB was established in 1974 and is located in Varberg on the west coast of Sweden. The company specializes in processing seafood products and fresh whitefish products. The company´s main focus is the production of goods for private label customers in the European market.

- Västkustfilé AB is a solid company with strong seafood production expertise and experience. Furthermore, the company is strategically located in an area of Sweden that shares many similarities to the Norwegian coastline in terms of fish processing traditions and culture. We feel, therefore, that we share a common starting point and thus the company will fit comfortably in our business portfolio, says Sigvald Rist, Managing Director at Insula AS. 

Insula AS also owns Marenor AB, located in Kungshamn and Lysekil on the Swedish west cost. Benjamin Ajo, Managing Director at Marenor AB, will also lead Västkustfilé AB after the takeover. The sellers, brothers Stig and Tord Hansson, will continue to be central in the continued operation of the company. 

- After having been both owner and Managing Director for the company for years, I now look forward to what bringing the company into a large seafood family like Insula represents. We feel that we have found the right buyer, and we are excited to develop the business further within the strong platform this represents, says Stig Hansson. 
Sigvald Rist shares the earlier owner’s positive outlook: 

- Through the 2014 acquisition of Marenor we have achieved a stronger connection to the Swedish market, a market that has a significant and growing consumption of seafood. Swedish consumers have a strong focus on wellbeing, health and food sourcing which makes it very exciting to be present exactly here. We will use the time going forward to become even better acquainted with the business in Varberg, as well as to consider how best to develop the company further, concludes Rist. 

Contacts: 

Sigvald Rist (Managing Director Insula AS), phone +47 957 81 300.

Benjamin Ajo (Managing Director, Västkustfilé AB), phone +46 702-922492.

Stig Hansson (previous owner and Managing Director, Västkustfilé AB), phone +46 0340-66 32. 

About Västkustfilé AB:

  • Seafood company established in 1974 focusing on processing of seafood products as well as fresh white fish for the European market.
  • Located in Varberg, Sweden
  • 2014 Revenue of 253 million SEK
  • 100 employees - Website: www.vastkustfile.com

About Insula AS:

  • Holding company established in 2015 with the goal of becoming a Nordic seafood group focused on processing for consumer markets.
  • Headquartered in Leknes in Lofoten, Norway.
  • Managing Director: Sigvald Rist
  • Owned by Kverva AS and its management group.
  • Holds the following company portfolio: Lofotprodukt AS, AS Keco, Lofoten Aqua AS, MaxMat AS and Conchilia AS in Norge, as well as Marenor AB og Västkustfilé AB in Sweden
  • Expected revenues for 2016: 2,3 billion NOK
  • Website: www.insula.no