Iceland-based Ice Fish Farm has signed an agreement to sell all of its shares in smolt producer Eldisstöðin Ísþór (Isthor) to Arnarlax for €32 million. The shares constitute 50 percent of ownership of Isthor.
Ice Fish Farm said it will focus its growth strategy in other smolt facilities that it owns 100 percent. “Cost of building more capacity is similar as we are selling Isthor at. Our growth plans of 8-million smolts with average size of 400 grams is unchanged,” it said.
Arnarlax says the deal will enable it to increase smolt size before they are transferred to sea.
“With this Arnarlax takes another important step in the strategy of increased smolt weight, allowing increased MAB license utilization while reducing production time in sea and thereby biological risk.”
The closing of the share purchase agreement is expected to conclude during the course of Q3 2022, if approved by Icelandic competition authorities.