Mowi has agreed to sell its Canada East salmon farming operations to Canadian seafood company Cooke Inc. for CAD 225 million (€138 million) on a debt-free basis.
The business harvests approximately 9,000 tonnes gutted weight annually. Mowi said the disposal will allow it to sharpen its focus on its core farming regions.
The transaction is subject to competition approval and confirmatory due diligence by Cooke. Completion is expected during the second half of 2026, subject to customary closing conditions.
Until the transaction is completed, Mowi will classify the Canada East business as held for sale in its financial statements.
As a result of the divestment, Mowi has reduced its 2026 harvest guidance to 600,000 tonnes from 605,000 tonnes. The company also expects to recognise a write-down of approximately CAD 140 million (€86 million) in connection with the sale.
Following completion, Mowi will continue salmon farming operations in Norway, Scotland, Ireland, the Faroe Islands, Iceland, Canada and Chile.
Cooke, a privately held seafood company headquartered in New Brunswick, operates salmon farming businesses on both Canada’s Atlantic and Pacific coasts. The acquisition will strengthen its position in eastern Canada.
Mowi reported revenue of €5.7 billion in 2025.
