LYSI acquires pet food producer IFEX
Yesterday, LYSI finalised the acquisition of 53% of the shares in IFEX, a company in which LYSI held 47% of the shares prior to the transaction. IFEX has specialised in the production of cat and dog food. Around 95% of the production is exported to the USA, Europe and Asia.
The company has 10 employees. It has been ambitious in its endeavour to produce nothing but high quality products from Icelandic raw materials. Its processing plant in Thorlakshofn on the south coast of Iceland is adjacent to one of the country’s best fishing grounds. In addition to pet food the company also manufactures dried fish snacks for human consumption.
These products have been very well received by customers and not least consumers. Not many companies produce pet food from pure Icelandic fish, without additives.
LYSI is best-known for its production of health care products such as cod liver oil and omega-3 oils, now produced in the new state-of-the-art processing plant in Reykjavik, which is probably the best of its kind in the world. However, LYSI is also a producer of fish meal and other feed grade oils and sees new opportunities ahead in conjunction with the acquisition. In the words of CEO Katrin Petursdottir: “I can see many synergies in product development, production and sales. We can easily increase our pet food production and LYSI has the know-how to use special nutrients to compose products of optimal nutritional value. It is only right for LYSI to contribute to the accessibility of dogs, cats and other pets – as well as humans – to health food. Both companies have processing units in Thorlakshofn which will make all interaction run smoothly.”
For further information please contact Katrin Petursdottir, tel. + 354 899 5551.
