The large production, sales and export company, Polar Seafood Denmark A/S is on its way to being completely in Greenlandic hands.
The Greenlandic fishing giant Polar Seafood Greenland A/S has entered into a conditional agreement to buy the Icelandic fishing giant Brim hf’s 50 percent stake in the Danish company.
The large production, sales and export company, Polar Seafood Denmark A/S is on its way to being completely in Greenlandic hands.
The Greenlandic fishing giant Polar Seafood Greenland A/S has entered into a conditional agreement to buy the Icelandic fishing giant Brim hf’s 50 percent stake in the Danish company.
This is a significant deal of DKK 925 million. This appears from a stock exchange announcement from Brim, which is listed on the Icelandic stock exchange.
Simpler ownership structure
When the transaction is completed, Polar Seafood Denmark, which is a production, sales and export company, will thus be fully in Greenlandic hands and will be fully owned by Polar Seafood Greenland.
According to Polar Seafood Greenland’s management, the agreement with Brim marks an important strategic step towards a simpler ownership structure and an even stronger anchoring and decision-making power in Greenland.
– With this agreement, we consolidate the ownership and create a much simpler structure. This provides shorter decision-making processes and a better opportunity to develop the group based on our Greenlandic roots, says director Bent Salling, CEO of Polar Seafood Greenland, in a press release.
Will secure Greenlandic interests
With the full ownership of Polar Seafood Denmark, Polar Seafood Greenland will to a greater extent be able to ensure that decisions are made closer to the fisheries, the raw materials and the Greenlandic stakeholders such as e.g. pension fund SISA, which owns five percent of Polar Seafood Greenland.
– We get a clearer direction and a stronger focus on what creates value in Greenland. Both for the fishery and for our employees.
– At the same time, we retain the strengths of our Danish activities, but with clearer Greenlandic management and prioritization, says Miki Jonas Brøns, who is also CEO of Polar Seafood Greenland.
The decision to buy Brim’s share of Polar Seafood Denmark stems from a desire among the Greenlandic owners to create a more up-to-date and efficient structure that better supports the group’s long-term development.
With full ownership of Polar Seafood Denmark, Polar Seafood Greenland gets, among other things, better opportunities to make faster and more coherent decisions.
– We stand stronger when we combine ownership. This gives us better conditions for investing, developing and acting in the long term both in Greenland and internationally, says Bent Salling.
Pensionskasse is a minority shareholder
Brim owns half of the shares in Polar Seafood Denmark A/S, headquartered in Vodskov in North Jutland, through the Danish subsidiary S‑13 Holding ApS. The rest of the sales and export company is Greenlandic owned.
Polar Seafood Greenland has the wealthy Bent Salling, Laila Friis-Salling and Miki Brøns as the largest shareholders, while the trade union SIK’s pension fund SISA is a minority shareholder.
There is no doubt that Greenland’s absolutely largest privately owned fishing company, with the purchase of Brim’s share in Polar Seafood Denmark, will consolidate its position in the Northern European fishing industry.
Last year, the strong and financially sound Polar Seafood Denmark delivered one of its biggest profits. It was 172 million kroner after tax. At the end of 2025, the company had equity of DKK 1.1 billion.
With fishing king Gudmundur Kristjansson at the helm, Brim bought half of Polar Seafood Denmark from the Danish families Bent Norman Pedersen and Helge Nielsen for DKK 625 million in October 2022.
Thus, Polar Seafood Greenland pays DKK 300 million more for Brim’s share in Polar Seafood Denmark than the amount Brim bought half of the company Polar Seafood Denmark for in 2022.
This corresponds to three years’ profit in Polar Seafood Denmark.
High profit
Polar Seafood Denmark is a well-run company that has delivered solid financial results over a number of years.
Last year, the company had a turnover of DKK 4.7 billion and a profit after tax of DKK 172 million. It is the company’s best result since 2021. The high profit is due to high fish prices.
