Fram Foods acquires Boyfood Oy

21/09/05 The Icelandic food producer Fram Foods hf. has bought all the shares in one of the largest herring producers in Finland, Boyfood Oy. Boyfood Oy sells herring under the well-known trademark of BOY and is also a major producer of private label herring.

Fram Foods hf. has operations in six countries: Sweden, France, Iceland, Germany, Chile and Finland. The companies sell consumer packaged food produced from marine products across Europe. The final products are produced under Fram Foods' own brand names as well as private labels. Boyfood therefore represents an excellent match for Fram Foods’ strategy. The management of Fram Foods owns the controlling share in the company. The chairman of the board is Mr. Halldór Thorarinsson and the CEO is Hilmar Ásgeirsson. Fram Foods’ annual revenue is estimated to be 55 million euros after the transaction. The purchase price is confidential.