Skaginn 3X shareholders approve Baader’s 100 percent acquisition

Lübeck, Germany-based seafood-processing equipment manufacturer Baader has acquired 100 percent of Skaginn 3X and has begun process of integration between the two firms.

Shareholders of Akranes, Iceland-headquartered Skaginn 3X vote to approve the acquisition on 21 February. Baader had previously taken a majority share of Skaginn 3X in October 2020, and the acquisition was finalized in February 2021.

“With this investment, Baader underlines its commitment to the Icelandic market,” it said in a press release. “The Skaginn 3X technologies and the proven expertise of the Skaginn 3X workforce are an important part of strengthening the Baader international growth strategy. Combining the unique engineering intelligence and resource expertise of the two companies will strive for the development of pelagic and whitefish processing as well as subchilling, thawing, freezing and co-product handling for the fish, poultry, meat, and other industries.”

Skaginn 3X has contributed several innovations to the seafood-processing field, including its ValuePump and its sub-chillers. Following its integration into Baader, Guðjón M. Ólafsson will continue to serve as managing director of Iceland operations, with Jóhanna Waagfjörð serving as CFO. ISEA Partners CEO Jeff Davis will continue to serve as chairman of the Skaginn 3X board.

“With Skaginn 3X being a full member of Baader, we can now position ourselves as a full solution provider for all fish species,” Baader Managing Director Robert Focke said. “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.”

Photo courtesy of Skaginn 3X