Sildarvinnslan Hf. (ICSE:SVN) agreed to acquire Visir Hf. for ISK 31 billion on July 11, 2022.

Visir achieved an annual turnover of just over ISK 10 billion in 2021. Post completion of the acquisition, it is confirmed Pétur Hafsteinn Pálsson will continue as Vísir's managing director and Síldarvinnslan said the two companies will now be headquartered at Grindavík, with Vísir becoming a subsidiary. It is likely Síldarvinnslan will have to sell or shift its some of its fishing quota to comply with Iceland's quota ownership limit, which will be implemented six months after the transaction closes.

The acquisition is subject to due diligence, shareholder approval, and approval from Iceland's Competition Authority. As of November 15, 2022, the transaction was approved by Competition Authority of Iceland.