Bakkafrost buys Danish cannery

by
editorial staff

Bakkafrost has acquired 90 per cent of shares in Munkebo Seafood.

In a transaction closed on 1 January, the acquisition has taken place in partnership with Michael Karlsen, who has been the general manager of Munkebo Seafood for a number of years. The shares are purchased from Paul Lybech, who has been engaged by Munkebo Seafood for almost 25 years. Following the transaction, Bakkafrost owns 90 percent and Michael Karlsen ten percent of the Danish company.

Munkebo Seafood was founded in 1974 and has since the formation been engaged in production of canned fish at the factory in the town of Munkebo in Denmark.

Bakkafrost has been one of the largest suppliers of raw materials for Munkebo Seafood for the past few years. With a planned increase in production of salmon over the coming years, from Bakkafrost’s farms in the Faroe Islands and in Scotland, Munkebo Seafood will have a strengthened raw material base and Bakkafrost will strengthen the ability to further increase the value derived from its salmon by-products.

Bakkafrost is the largest salmon farmer in the Faroe Islands and has extensive
salmon farming in Scotland. The Bakkafrost Group is fully integrated from the
production of fishmeal and salmon feed to genetics, roe and fry, breeding, processing, processing and sales. Bakkafrost has activities in the Faroe Islands, Scotland, England, USA and now also in Denmark. Prior to the acquisition of Munkebo Seafood, Bakkafrost had 1,644 full-time employees.

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