Sale details for Atlantic Sapphire’s fire-ravaged Danish facility revealed

Matthew Wilcox

Atlantic Sapphire has putting its fire-ravaged pilot site in Denmark up for sale.

Atlantic Sapphire has detailed the sale of its Danish facility in Hvide Sande, Denmark in a comprehensive sales document.

This document, first brought to light by Norwegian salmon industry news service iLaks, outlines the potential and plans for the site, which was initially a pilot project for the company’s larger operation in Florida.

The facility suffered extensive damage due to a fire in autumn 2021 and is now being offered for sale with complete redevelopment plans.

In a post on LinkedIn on Friday, Thue Holm, co-founder of Atlantic Sapphire, confirmed the story.

The site is on a long-term lease to Atlantic Sapphire, while the company owns the infrastructure and permits attached to the site, founder Johan Andreassen told SalmonBusiness last year.

The permits for the site are still active, meaning a new aquaculture business could start at the site.

Speculation as to the future of the site has been rife ever since the fire ripped through the land-based salmon farming facility. Although no injuries were reported, the site was rendered inoperable in terms of salmon production.

The book value at the time of the fire was DKK 210 million ($33 million). Insurers identified DKK 30 million ($4.2) million worth of undamaged buildings, however, leading to the DKK 180 million ($26 million) payout.

Ready to farm

The infrastructure is in place for a production capacity of at least 4,400 tons, with a range of assets included, such as water intake, hatchery, start-feeding unit, smolt facility, filtration, heating and cooling systems, and power supply infrastructure. The deal also comes with existing production licenses and discharge permits, according to Holm. 

The sales document presents the site as a unique business opportunity, citing rapid turnover and high investment return potential. To realize the post-smolt production plans, Atlantic Sapphire estimates a capital expenditure (capex) of DKK 550 million ($80 million).


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