Oghma Partners LLP (“Oghma Partners”) is pleased to announce its role as financial adviser to Icelandic Group on the sale for cash of its UK-based subsidiary Icelandic Group UK (“Seachill”), to Hilton Food Group plc (“Hilton”), a leading specialist international meat packing business, for an Enterprise Value of GBP 84 million. The Seachill sale process, announced by the Board of Icelandic Group in April 2017, received significant interest from multiple parties on a global basis. The transaction is due to complete on or around 7 November 2017.
Seachill will become a standalone division of Hilton following completion, with the existing Seachill management team remaining in place. Simon Smith, the current Seachill Chief Executive Officer, will continue to lead the business as a divisional head of Hilton.
Seachill is a major supplier of chilled and frozen natural whitefish and salmon and added value products within the coated and ready-to-eat fish sectors. Seachill is also the owner of The Saucy Fish Co. which has gained recognition and success both domestically and internationally as a modern, consumer- focused brand.
Hilton is a leading specialist international meat packing business, supplying major international retailers from its state-of-the-art facilities. Hilton’s business was established in 1994 to set up and operate a beef and lamb central meat packing facility in Huntingdon, UK. Hilton has grown rapidly and now has six factories across Europe plus two joint ventures which allow the Group’s products to be sold in supermarkets across 14 European countries. Hilton is a publicly traded company listed on the London Stock Exchange.
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