The terms of the deal were not disclosed.
Norwegian salmon producer Måsøval has decided to sell harvesting company Western Seaproducts following a strategic review of its total harvesting capacities.
The company has reached a sales agreement with Norwegian cod farmer Ode, according to a release by the salmon farmer issued on Friday.
Masoval decided to offload the harvesting company in late 2023, after undertaking a strategic review of its harvesting operations.
As part of the deal, Western Seaproducts will become a fully owned subsidiary of the Ode group. Ode plans to continue operating the facility primarily for cod processing while also developing secondary processing capacities for cod and byproducts. The transaction is set to conclude in February 2024.
In January, Masoval entered into an agreement to buy Mowi’s old processing plant in Hitra.
