Mørenot acquires Hvalpsund Net
Mørenot has been on a buying spree since its acquisition last year by investment fund FSN Capital – and this continues as the expanding Norwegian group snaps up Danish aquaculture and fisheries supplier Hvalpsund Net.
“Through hard work and solid dedication for a long period of time, Hvalpsund Net has been developed into an agile company with strong customer relationships, and a safe and good workplace for its employees. Mørenot, which provides solutions for sustainable harvesting of seafood, will combined with Hvalpsund be able to offer more competitive solutions and develop even more innovative products across all markets,” said Mørenot CEO Arne Birkeland.
“The companies have unique strengths and opportunities that will now be extracted to an even greater extent. We will continue to develop the position Hvalpsund has built on plastic cages, nets and fishing gear by investing in further product development across the product portfolio. At the same time, we will continue to deliver individual products separately, but at the same time also develop complete and integrated cage solutions in some markets.”
Peter Poulsen, who joined the company in 1966 and took over as CEO in 1974, has together with his family been majority shareholders in Hvalpsund Net since 1974. All the previous owners of Hvalpsund will reinvest a significant share of the proceeds in Mørenot and remain an active part of the future development of the partnership.
“Hvalpsund Net and Mørenot together is a great fit and will strengthen our efforts to continuously develop the business and organization to the best of our employees and customers. It was important for us to bring in a partner who shared our values and visions and wanted to invest for the future,” said Peter Poulsen.
“Mørenot is the leading supplier to the aquaculture and fishing industry globally and it will give us a fantastic opportunity to build on each other's strengths, knowledge and experience to deliver even better products to our customers.”
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