[6] Bakkavör was founded in 1986 by the two brothers Ágúst and Lýður Guðmundsson to manufacture and export cod roe to Scandinavia.

[11] Following the global financial crisis of 2008, Bakkavör became heavily indebted,[12] forcing the Guðmundsson brothers into emergency talks with the company's bondholders.

[14] Lýður and Ágúst Guðmundsson faced fraud charges in Iceland in 2012 relating to their ownership of Exista.

[17] In January 2016, Bakk AL Holdings Limited, a company owned by Ágúst and Lýður Guðmundsson and funds managed by The Baupost Group, LLC, purchased shares in the company, taking its ownership to approximately 89% of the outstanding shares.

[23] In November 2024, the Financial Times reported that the strike action was causing shortages of taramasalata in UK supermarkets.

[24] The company produces a range of meals, salads, desserts, dips, sauces, sandwiches and pizza and bread products.