Iceland Seafood International subsidiary purchases two trawlers to boost operations in Argentina

A subsidiary of Iceland Seafood International (ISI) has purchased two freezer trawling vessels in Argentina in a bid to enhance its operations in the country.

Thorpesca, a recently established Argentina-based subsidiary of Iceland Seafood Ibérica – a subsidiary of ISI – signed an offer letter from FOOD ARTS to acquire the two vessels, Entrena Uno and Entrena Dos. The total purchase price for the two vessels was USD 5.8 million (EUR 5 million).

ISI said Iceland Seafood Ibérica already operated in Argentina through its subsidiary Achernar, a seafood processing and trading company founded in 2012 and acquired by Iceland Seafood Ibérica in 2017. Since that time Iceland Seafood Ibérica has invested in the company’s processing facility in Puerto Madryn, which it said has made it a “recognized specialist in land-frozen Argentine Red Shrimp.”

ISI said acquiring the two trawlers will provide direct control over raw material sourcing in the area, allowing the company to enhance the vertical integration of its wild shrimp value chain. The two freezer vessels will enhance the company’s at-sea frozen shrimp.

“This move enhances supply chain resilience, supports current land-based processing operations, and opens new avenues for selling higher-value, sea-frozen shrimp,” the company said.

The company said the purchase fits with Iceland Seafood Ibérica’s long-term goals to strengthen its operations in Argentina, and fits the strategic roadmap ISI created in 2024. ISI regained profitability across all of its divisions in 2024 following a difficult 2023, and established a new plan that prioritized targeted investments in Argentina to reinforce its regional footprint.

“This acquisition represents a significant step forward in strengthening Iceland Seafood Ibérica’s operational capabilities, supply chain integration, and competitive position in the global shrimp market,” ISI said.