Belgian investor enters Grieg Seafood
The Grieg family is dividing the business ownership. The Willumsen Grieg branch of the family is taking over ownership of salmon farmer Grieg Seafood, while a Belgian investment company is joining the ownership.
Norway's wealthy Grieg family has decided to share business ownership in the Grieg Group after what the family describes as a thorough process.
For Grieg Seafood, the change means that the Willumsen Grieg family branch will take over the Grieg Group's 50.2% ownership stake through the company Grieg Aqua.
Belgian investor
At the same time, the Belgian investment company Ackermans & van Haaren (AvH) will become a co-owner of Grieg Aqua. The company will receive an ownership stake of 37.5%.
The Willumsen Grieg family will establish a new family company that will continue ownership, in addition to establishing new investment activities.
This means that the Grieg family's ownership of Grieg Seafood will continue, but within a new ownership structure and with AvH as a co-owner of the company holding the Grieg Seafood shares.
The other three family branches will continue and develop ownership in the Grieg Group, which after the division will consist of Grieg Maritime Group, Grieg Investor and Grieg Kapital.
Will focus ownership
According to the family, the reason for the division is a desire for more focused ownership.
The Grieg Group has undergone a generational change and today consists of 17 shareholders from the fourth and fifth generations.
"A large portion of the portfolio is exposed to shipping and seafood, which are both cyclical and capital-intensive industries. This requires active and focused ownership, and I believe that the family has now taken the right and natural step to equip their companies for the future," said Jon Haugervåg, chairman of the board of Grieg Maturitas.
The family states that the decision to divide Grieg Maturitas is largely due to the shareholders having different interests and expertise. The goal is for the new structure to provide more focused ownership.
The Grieg Foundation will continue to own 25% in both family companies, while Grieg Gaarden, a waterside office block in Bergen's harbour area, will remain in the family's joint ownership.
