Frøy sells aquaservice division to Abyss.
Norwegian aquaculture services company Frøy has sold its subsidiary Frøy Akvaservice to Abyss. The deal includes 230 employees, 33 service vessels, and bases at Frøya, Måløy, and Finnsnes.
The sale is part of Frøy’s strategy to focus on its core areas, including wellboats, large service vessels, diving operations, and transport. The company said the decision will allow it to concentrate resources and strengthen its position in key growth segments.
“Aquaculture is becoming increasingly complex, and it’s challenging to be best at everything. We are now concentrating fully on our core areas, which will strengthen both Frøy and the wider industry,” said Frøy CEO Tonje Foss in a press release.
Abyss said the acquisition aligns with its plans to expand its operations along the Norwegian coast. “We are pleased to take on the expertise, vessels, and employees from Frøy. This transaction strengthens our ability to provide essential services to a global industry producing sustainable seafood,” said CEO Victor Jan Jensen.
Following the sale, Frøy will retain a fleet of 47 vessels and around 750 seafarers, with new vessels under construction. Abyss will operate 56 service vessels and employ around 500 people after the deal is completed.
Completion of the transaction is subject to approval from Norway’s Competition Authority, which is expected before the end of the year.
