Holding pens and the Kråkøy Slakteri facility in Hongsand, Norway.

Norcod buys fish slaughter facility


Norwegian cod farmer Norcod has agreed a deal to buy fish slaughter company Kråkøy Slakteri for an undisclosed sum.

Kråkøy’s harvest station in Hongsand in Roan municipality north of Trondheim handles farmed salmon and trout and cod. Its customers last year included Måsoval, SalMar, Lerøy, Bjørøya, AquaGen, Mowi, and Norcod.

The company made NOK 63 million (£4.7m) in revenues last year and had an operating profit of around 5%.

Strategic step

Norcod said the transaction, which involves 53 full-time employees at Kråkøy Slakteri, is expected to create operational synergies and enable cost efficient operations in Norcod’s value chain.

“Led by our strategy for growth, this vertical integration of our value chain is a strategic step to improve our operations and create a robust and streamlined business model,” said Norcod chief executive Christian Riber.

Kråkøy chief executive Roger Sørgård said: “Being part of Norcod will accelerate our growth ambitions and enable our efforts to scale our offering. Joining forces with Norcod is an acknowledgment of the success we have had serving the local market with harvesting services."