Icelandic

Our Client

Icelandic USA, Inc. is the U.S. subsidiary of IFPC, a publicly-quoted Icelandic concern and one of the world’s leading suppliers of high quality, branded frozen seafood. With a long and rich history, the Company’s “Icelandic” brand has become one of the most recognized and valued brands within the North American foodservice industry.

Our Role

Icelandic USA, Inc. retained KPMG's Corporate Finance to help the Company more rapidly expand its species and product offerings as well as its customer base in North America through one or a series of complementary acquisitions.

The Transactions

With the assistance of KPMG Corporate Finance, the Company successfully completed the acquisitions of Ocean to Ocean Seafood Sales LLC and Neptune Fisheries Inc., two Virginia-based importers and marketers of frozen shrimp. Ocean to Ocean of Virginia Beach, with sales in excess of US$100 million, offers the Company a strong retail presence, while Neptune Fisheries (based in Norfolk), with sales of approximately US$50 million, sells predominantly into the domestic foodservice industry. The acquisitions allow the Company to better capitalize on the growing demand for shrimp, which now ranks as the top consumed species within the U.S.