Mowi buys up Norwegian salmon farmer
The world’s biggest salmon farmer, Mowi, is extending its capacity in Norway by agreeing to buy K Strømmen Lakseoppdrett AS for NOK 790 million (£73.8m).
K Strømmen Lakseoppdrett AS has four licences, each with a maximum allowed biomass of 780 tonnes, and farms in Bremanger municipality, Sogn og Fjordane.
In a market announcement, Mowi said the potential acquisition strengthens its position in an area already core to Mowi Region Mid and supports its long-term strategy of being a world leading and integrated producer of seafood proteins.
The company added that 30% of the purchase price will be settled through issuing new Mowi shares and 70% will be settled in cash.
The transaction is subject to approval by the Norwegian competition authorities and customary closing conditions.
