Salmon farming company Grieg Seafood BC Ltd. has purchased the Target Marine Group of Companies’ salmon farming sites on Canada’s Sunshine Coast and its processing facility in Egmont.
Target Marine is the largest producer of coho salmon in North America.
The acquisition brings the number of Grieg’s full time employees to 129 from 50, and the company’s salmon farm licenses to 17 from nine.
The purchase of the Egmont Fish Plant will also enable the company to increase its processing capacity. Grieg’s current operations support 45 full time employees at Walcan Seafoods Ltd., the single largest employer on Quadra Island, Canada.
Target Marine Group of Companies will keep its hatchery and its sturgeon operations.
Peter Gibson, Managing Director of Grieg Seafood BC said, “the acquisition will enable us to grow and process more fish, to meet strong market demand for our product here in Canada and in the growing US market, and to strengthen our investment in British Columbia’s coastal communities.”
