Norway-headquartered Mowi has entered into a share purchase agreement to acquire 51.28% of the shares in Icelandic salmon farmer Arctic Fish with the anticipated acquisition price amounting to NOK 1.88 billion.
Situated in the West Fjords, Arctic Fish has licenses for 10 ASC-approved sites in total, providing a maximum allowed biomass (MAB) of 27,100 tonnes and a further 4,800 tonnes pending approval. It expects to harvest 10,600 GWT in 2022.
Confirming the move, Mowi CEO Ivan Vindheim said, “The Icelandic salmon farming industry is set for extensive development and growth in the coming years and we take great pleasure in this opportunity to play a part. Icelandic waters provide excellent growth and living conditions for the salmon.”
He added, “Arctic Fish’s geographical footprint and competent organization fit unusually well with Mowi’s current operations and strategy. With Mowi on board, Arctic Fish and its other owners will be positioned for an attractive growth journey with Mowi’s extensive toolbox and strong financial position on hand, to the benefit of local communities.”
The transaction is subject to consent by the European Commission and other closing conditions.
Mowi is the largest producer of farm-raised salmon in the world, with 466,000 GWT harvested in the six farming countries of Norway, Scotland, Ireland, Faroes, Canada and Chile in 2021.
