Grieg Seafood ASA has signed a deal to sell its businesses in Finnmark and Canada to Cermaq for NOK 10.2 billion, on a cash and debt-free basis. This move includes Grieg Seafood Finnmark, Grieg Seafood Newfoundland, and Grieg Seafood British Columbia, along with the company’s North American sales organisation.
Following the sale, Grieg Seafood will focus its efforts on the Rogaland region in Western Norway, aiming to become a leader in sustainable aquaculture. Nina Willumsen Grieg, CEO of Grieg Seafood ASA, stated, “This transaction will position both Grieg Seafood and the regions for the future. It allows us to concentrate focus and resources in Rogaland. We aim to continue to be a strong actor in the advancement of sustainable aquaculture in Norway.”
Cermaq is expected to improve the operations in Finnmark, Newfoundland, and British Columbia. Willumsen Grieg added, “Cermaq shares our values of farming with the lowest possible environmental impact and highest possible fish welfare, as well as of respecting and contributing to the rural and Indigenous communities where the operations take place. We are confident that the regions are in the best hands and that they will continue to create local value long into the future.”
The deal is subject to standard closing conditions, including approval from relevant competition authorities. Grieg Seafood aims to harvest 30,000 tonnes from its Rogaland operations by 2025.
