Mowi adds to port­fo­lio with Nor­we­gian ac­qui­si­tion

Fish Farmer - - European News -

MOWI has moved to strengthen its Nor­we­gian base by buy­ing the fam­ily owned salmon busi­ness of K. Strøm­men Lak­seop­p­drett.

The com­pany con­firmed the 790 mil­lion kro­ner (£73 mil­lion) deal, which is 70 per cent in cash and 30 per cent through Mowi is­su­ing new shares.

Mowi said the pur­chase would strengthen its po­si­tion in cen­tral Nor­way, and ‘sup­port our long term strat­egy of be­ing a world lead­ing pro­ducer of seafood pro­teins’.

When Mowi re­branded from Marine Har­vest last year it made it clear that it was in the mar­ket for fur­ther ac­qui­si­tions, both at home and abroad.

K. Strøm­men Lak­seop­p­drett has four li­cences and op­er­ates with four sep­a­rate lo­ca­tions, each with a max­i­mum biomass of 780 tonnes.

Es­tab­lished by aqua­cul­ture pi­o­neer Kris­ten Strøm­men in 1972, when salmon farm­ing was still a rel­a­tively small in­dus­try in Nor­way, the busi­ness had an an­nual turnover in ex­cess of 170 mil­lion kro­ner (around £15 mil­lion) last year.

It also has a strong cus­tomer base and its At­lantic salmon is recog­nised in the in­dus­try as be­ing of high qual­ity. It is ex­ported to ma­jor mar­kets in Asia and Europe.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.