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IS Haf obtains 53% stake in Iceland’s Thor Landeldi

Investment fund IS Haf Investment has acquired a 53 per cent stake in the Icelandic land-based salmon farmer Thor Landeldi.

The deal is worth an estimated ISK 10 billion (US$73 million).

Landeldi was founded in 2017. The company owns Deep Atlantic which operates a land-based farm in the town of Þorlákshöfn on the southern coast of Iceland, and plans to build a 20,000-ton salmon farm in the town.

Haf was founded in early 2023. Among the company’s funders are the Brim, a fishing company; the seafood company UR; and Icelandic pension funds.

“The rapid development of salmon farming in Iceland requires a strong involvement of investors alongside people with experience in the industry,” a report from Fish Farmer Magazine, quoted Kristrún Auður Viðarsdóttir, CEO of IS Haf Investments. “There is a great need to strengthen the infrastructure of salmon farming in order to keep up with the growth, and the production of fry is a basic prerequisite for the successful growth of both sea and land farming.”

“Representatives of Thor Landeldi ehf welcome IS Haf’s involvement in the development of the company, which paves the way for the company’s ambitious plans to develop large-scale land-based salmon farming,” said Jónatan Þórðarson, farm manager Thor Landeldi, said.