Merger of Eðalfang ehf. and 101 Seafood ehf.

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• Case number: 22/2023
• Date: 8/8/2023
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• Summary

  The ICA took a position on the merger of Eðalfang ehf. and 101 Seafod ehf.

  On June 5, 2023, the Competition Authority was notified of the purchase of Eðalfang ehf.'s 50.1% shares in the company 101 Seafood ehf.

  Eðalfang is a holding company. The company manages shares in three companies; Brimilshóla ehf., Norðanfisk ehf. and Eðalfisk ehf. The group specializes in the processing of marine products into catering and consumer packaging as well as related activities. The company is based in Akranes and Borgarnes.

  101 Seafood is a company in the field of importing and selling marine products. The company has specialized in importing shellfish, e.g. frozen and live lobsters, crabs and scallops, as well as buying whitefish on the domestic market. The products and more are intended for further processing and sale to large kitchens and other parties.

  The parties to the merger report that the market affected is the packaging of seafood for commercial kitchens and in consumer packages. the parties to the merger consider it likely that the market would be considered limited to the entire country.

  The Competition Authority did not observe that the relevant merger led to the creation or strengthening of a market dominant position, or that the merger led to competition being disrupted in other respects in a significant way, cf. Article 17 c of the Competition Act. For that reason, it was the inspection's conclusion that there were no grounds for taking action regarding this case on the basis of Article 17. c of the Competition Act and close the case in the first phase of the investigation.