Mowi buys K. Strømmen Lakseoppdrett for EUR 82 million

Stian Olsen

Mowi confirmed in a stock exchange announcement on Friday morning that the company has acquired the family-run salmon farm K. Strømmen Lakseoppdrett.

According to the stock exchange announcement, the price was EUR 82 million – which will be settled by 30 per cent in shares in Mowi and 70 per cent in cash.

The potential acquisition strengthens our position in an area already core to Mowi Region Mid, and supports our long-term strategy of being a world-leading and integrated producer of seafood proteins,” wrote Mowi in the stock exchange announcement.

It was SalmonBusiness who first reported th that K. Strømmen Lakseoppdrett in Rugsund in Bremanger municipality, western Norway, was up for sale in early June.

The company, which was founded by the farm pioneer Kristen Strømmen in 1972, has four salmon farm licenses and operations in four locations – each with a maximum allowed biomass of 780 tonnes. The company produces around 5,500 tonnes of salmon annually.

In 2018, the company had a turnover of EUR 17.6 million and had an operating loss of EUR 665,000.

In June, SalmonBusiness wrote that more EUR 77 million was being offered by several players including buyer groups.

The transaction depends on the approval of the Norwegian competition authorities.


Related Articles