Icelandic Group has confirmed its intentions to divest its UK operations, Seachill, which supplies chilled fish to the country's retail market.
The company's board has decided to start a sale process for Seachill, which had sales of £266.3m in 2016.
The seafood business, which was founded in 1999, is claimed to be among the leading chilled fish processors in the UK.
Seachill, which is the owner of The Saucy Fish, also claims to have well-invested facilities along with an established supply chain.
Headquartered in Grimsby, Seachill has a workforce of around 750 people.
The Saucy Fish had its frozen range launched in the UK in February comprising five products in the form of Sea Bass with Salsa Verde, Salmon with Chilli, Lime & Ginger Dressing, Smoked Haddock with Vintage Cheddar & Chive Sauce along with a couple of Saucy centre fishcake variants.
Its owner, Seachill is said to focus on sustainability by working exclusively with suppliers who either have access to seafood certified by MSC or those who are a part of the fisheries improvement programme.
Icelandic Group has entrusted the responsibility of managing the sale of all the Seachill shares to Íslandsbanki and Oghma Partners.
Earlier in the month, Icelandic Group had agreed to divest Gadus, its Belgian subsidiary to Steinasalir based in Iceland for an undisclosed price.
Gadus which processes, sells and distributes fresh fish products, especially salmon and cod to retailers and cash & carry retailers in Belgium was put to sale in January.
Prior to that in December 2016, Icelandic Group had reached an agreement to sell its subsidiary Ný-Fiskur, a fresh seafood processor in Iceland to Nesfiskur.
