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Icelandic Group Completes Sale of Seachill to Hilton Food Group

Icelandic Group is pleased to announce the completion of the sale for cash of its UK-based subsidiary Icelandic Group UK (“Seachill”), to Hilton Food Group (“Hilton”), a leading specialist international meat packing business, for an Enterprise Value of GBP 84 million.  The sale was announced on 18 October 2017 and completed today, 7 November 2017. 

The Seachill sale process, announced by the Board of Icelandic Group in April 2017, received significant interest from multiple parties on a global basis.  Oghma Partners and Íslandsbanki acted as joint financial advisors to Icelandic Group.  LOGOS Legal Services acted as legal advisers to Icelandic Group. 

Seachill will become a standalone division of Hilton 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.

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