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SAINSBURY'S, Britain's largest fishmonger, is reported to be considering a possible bid for some or all of the stores operated by the frozen food chain Iceland - if the business comes on the market.
Administrators for Icelandic bank Landsbanki, which holds a two-thirds stake in the retailer, are thought to want up to £2 billion for the business.
The Landsbanki Resolution Committee, the body set up to wind up the affairs of the failed Icelandic bank, confirmed last week that it has begun a sale process.
But Iceland's chief executive Malcolm Walker is thought to be keen on regaining control of the chain and has indicated that his £1-billion offer remains on the table.
If correct and if a deal did go through involving Sainsbury's it could have a big impact on the companies who supply seafood to both businesses.
Sainsbury's sells fish worth over £400-million a year - both fresh-chilled and frozen - and has led the way in promoting and marketing sustainable fish of all types. It also has a number of in-store fishmongers. It confirmed to the Daily Mail that if Iceland comes onto the market, it would take a look, adding that "everyone was looking at Iceland".
Iceland, which has over 700 stores in the UK, is also a big seller of fish (along with other types of frozen food) - but all of it from the freezer cabinets. However, both purchase from the same suppliers, most of them based on the Humber or in Scotland. Iceland is thought to be attractive to supermarket chains like Sainsbury's because many of its stores in attractive high street locations. An intriguing contest can be expected if and when Iceland does come onto the market and seafood producers will be watching closely.
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