SalMar takes majority stake in local peer Måsøval

Norwegian salmon processor SalMar has struck a woody to get a bulk involvement successful section food farming adjacent Måsøval.

In a connection yesterday (8 July), SalMar said it had reached an statement to bargain a 70% involvement successful the Atlantic salmon concern from the Måsøval family-owned concern steadfast Heimstø.

The woody volition spot SalMar bargain the involvement for Nkr 3.4bn ($349.2m). The transaction values the full of Måsøval astatine Nkr 4.84bn.

SalMar volition manus implicit 733,906 of its ain shares successful the deal, equating to 10% of the merchantability price. The remainder of the acquisition volition beryllium paid successful cash.

According to its website, Måsøval is an integrated salmon farming business, managing the smolt accumulation process up to the merchantability of salmon to markets worldwide. The concern is headquartered connected the land of Frøya, successful occidental Norway.

The group's farming activites instrumentality spot crossed the Norweigian coastline, from Vartdal to Frøya.

In its statement, SalMar said the woody is expected to supply "improved utilisation of resources, expertise and infrastructure, fortify innovation capability, and facilitate further improvement connected the salmon's presumption and semipermanent worth instauration on the Norwegian coastline".

The radical besides said the transaction "builds connected a shared past and a communal practice connected Frøya, which has played a formative relation successful shaping modern Norwegian aquaculture".

SalMar's main enforcement serviceman Frode Arntsen added: "We judge this represents an breathtaking concern accidental that volition fortify SalMar's presumption successful cardinal Norway, 1 of our astir important halfway regions for aquaculture.

"Måsøval is simply a historically well-established and well-managed institution with beardown roots successful the region, and its operations are a bully acceptable with SalMar's existing activities."

As portion of the transaction, Heimstø volition person 12 months from completion of the woody to merchantability SalMar's shares backmost for Nkr39.50 per share.

According to Heimstø's website, it has besides invested Icelandic salmon radical Kaldvík.

Last year, SalMar inked a woody to get salmon shaper Wilsgård done a merger. The transaction valued Norwegian aquaculture institution astatine Nkr1.76bn (then $168.8m).

SalMar already owned a 37.5% involvement successful Wilsgård. The transaction was archetypal projected successful February 2025 was confirmed the pursuing April.

"SalMar takes bulk involvement successful section adjacent Måsøval" was primitively created and published by Just Food, a GlobalData owned brand.