Salmon Giant Mowi Acquires Arctic Nova Sea

Seafood producer Mowi has entered into an agreement with Vigner Olaisen AS to purchase their shares in the north Norwegian salmon farm Nova Sea AS. This will increase Mowi's stake in the company from 49 to 95 per cent. Mowi will then promote a voluntary offer to other shareholders.

Nova Sea farms salmon in northern Norway and covers the entire value chain from broodstock and smolt production to slaughter and sale. The company expects to slaughter 52,000 tonnes of salmon in 2025. Mowi has been a major minority shareholder in Nova Sea since 1995.

Mowi currently has significant operations in northern Norway and, together with Nova Sea, will have an expected harvest volume of 157,000 tonnes of salmon in this region in 2025, as well as 367,000 tonnes in total for Norway and 572,000 tonnes worldwide.

ALSO READ: Canadian Snow Crab Industry may be Hit Hard by Trump's Proposed Tariffs