The board of Icelandic Group has started the sales process for its Belgian subsidiary Gadus.

A spokesperson at Islandsbanki Corporate Finance confirmed to IntraFish it has been mandated by the owners Enterprise Investment Fund with the sale.

The Belgian fish processing company was acquired by Icelandic Group in 2012.

It is specialized in the processing and sales of fresh and chilled fish products, in particular salmon and cod.

Gadus specializes in the production and sale of fresh seafood to retailers and wholesalers.

It is the second largest fish processor in the Belgian fresh fish market.