Ice from Iceland: an automatic contact freezer made by Skaginn 3X, which now fully owned by Baader.

Baader takes full ownership of Skaginn 3X

The shareholders of Icelandic chilling, freezing and food processing systems manufacturer Skaginn 3X have agreed on a 100% acquisition by food processing heavyweight Baader, which already held a majority stake in the company.

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Baader said the investment underlined its commitment to the Icelandic market, and that the Skaginn technologies and expertise of its workforce were an important part of strengthening Baader’s international growth strategy.

“With Skaginn 3X being a full member of Baader, we can now position ourselves as a full solution provider for all fish species,” said Baader managing director Robert Focke. “This is especially great for our customers. They can expect us to move fast towards a joint global sale setup and to leverage our joint technical capabilities as well as service offers.”

Guðjón M Ólafsson will continue to steer the business in Iceland, supported by Jóhanna Waagfjörð as chief financial officer as well as the Baader management. Jeffrey Davis, chief executive of ISEA Partners, will continue to serve as chairman of the Skaginn board.