Iceland pelagic harvester and processor Vinnslustodin (VSV) said Monday it reached an agreement to acquire a processing group and fishing vessel from shipping company owner Sigurjon Oskarsson and his family.

Under the terms of the deal, VSV will acquire Vestmannaeyjar-based Leo Seafood, which processes and sells around 5,500 metric tons of raw material annually, including fresh and frozen cod and haddock fillets and salt fish for the Spanish market.

The company also a sales and import arm, Leo Fresh Fish, in Boulogne-sur-Mer, France, supplying fresh cod, haddock and saithe loins.

VSV also acquired the company Os from Oskarsson, which operates fishing trawler Thorunna Sveinsdottir VE-401. The vessel was delivered to the group in 2010.