Novo Holdings has agreed to acquire Benchmark Genetics, a Norwegian leader in aquaculture genetics, from Benchmark Holdings plc for up to £260 million. The acquisition, which is expected to complete in the first quarter of 2025, will enhance Novo Holdings’ portfolio in aquaculture technology, aligning with its strategic focus on sustainability and innovation in food production.
The transaction, which includes an initial £230 million and potential additional payments of up to £30 million based on revenue milestones, marks Novo Holdings’ continued investment in the aquaculture sector. Aleks Engel, Partner at Novo Holdings, highlighted the role of animal genetics in enhancing food production systems, particularly in aquaculture, which has the potential to increase productivity and environmental sustainability.
Benchmark CEO Trond Williksen welcomed the deal, stating that Novo Holdings’ leadership would help drive the company’s growth and impact. Geir Olav Melingen, Head of Benchmark Genetics, expressed excitement about the future of the business, focusing on improving aquaculture productivity and resilience.
Benchmark Genetics, based in Bergen, Norway, specialises in breeding and genetic services for fish farming, including salmon and shrimp. Its services help improve farming efficiency by addressing challenges such as growth rates, feed conversion, and disease resistance. The company operates in major markets including Norway, Iceland, the Faroe Islands, and Chile, with customers in over 50 countries. Benchmark Genetics employs 270 people globally.
Novo Holdings, which manages the assets of the Novo Nordisk Foundation, is a major player in life sciences investment, with a focus on long-term sustainability. The acquisition is expected to further strengthen Novo Holdings’ position in the global aquaculture industry.
