BioMar has signed an agreement to acquire full ownership of LetSea, Norway’s leading research and experimental centre for aquaculture. The acquisition, which involves the purchase of the remaining shares from KapNor, will strengthen BioMar’s position as a global leader in fish feed research and development.
BioMar, which already holds a 34% stake in LetSea, has worked closely with the centre for years on joint research and innovation projects. With this acquisition, the company aims to enhance its capabilities in developing waterborne feeding, new feed ingredients, and improving fish health and performance.
Carlos Diaz, CEO of BioMar Group, stated that the deal would give the company access to additional R&D capacity in Norway and integrate a skilled research team into BioMar’s operations. He emphasised the value of LetSea’s facilities and its alignment with BioMar’s research efforts. BioMar’s Global R&D Director, Simon Wadsworth said that LetSea’s facilities and expertise complement BioMar’s existing research efforts and will enhance their ability to innovate and test new solutions under real-life seawater conditions.
Founded in 1996, LetSea operates a range of controlled trials with infrastructure such as tanks and full-scale sea cages. Its location on the Helgeland coast offers an ideal environment for testing feed and technology throughout the production cycle.
The acquisition, which is subject to regulatory approval in Norway, is expected to close by the second quarter of 2025.
