Bakkafrost new owner in Skagen

In consideration, Bakkafrost via Havsbrún will receive 17% of the share capital in FF Skagen A/S. The sale is subject to the approval of the Danish Competition and Consumer Authority.

Prior to the divestment Bakkafrost, owned 81,01% in Hanstholm Fiskemelsfabrik A/S, via its 100% owned subsidiary Havsbrún. The sale is a strategic sale and part of the consolidation of the fishmeal and fish oil industry in the region. Both FF Skagen A/S and Hanstholm Fiskemelsfabrik A/S are located in the Northern part of Denmark and they will be able to take out synergies following the trans action.

FF Skagen A/S is a fishmeal and fish oil producer in Skagen in Denmark. The company sourced 325,000 tonnes of pelagic fish in 2013 for production of fish meal and fish oil. FF Skagen A/S has during the last years had positive results in its operation, but had a extraordinary financial loss of DKK 64 million in 2013. The outlook for 2014 is positive due to expectation of good fishing and stronger quotas in the North Atlantic in 2014. The total assets amount to DKK 841 million and the equity was DKK 103 million.

Hanstholm Fiskemelsfabrik A/S is a fishmeal and fish oil producer in Hanstholm in Denmark. The company sourced 100,000 tonnes of pelagic fish in 2013 for production of fish meal and fish oil. Hanstholm Fiskemelsfabrik A/S had a financial loss of DKK 18 million in 2013. The total assets amounts to DKK 157 million and the equity was DKK 40 million.