Salmon tycoon Helge Gåsø’s Frøy Kapital acquires additional $9.3 million in Måsøval

Matthew Wilcox

Helge Gåsø has invested more than $20 million in Måsøval so far this year.

Former NTS owner and founder of wellboat and aquaculture services company Froy, Helge Gåsø, has purchased shares in the Frøya-based producer Måsøval for NOK 98.3 million ($9.3 million).

Gåsø acquired 3,277,233 shares at a price of NOK 30 ($2.85) per share. through investment vehicle Frøy Kapital.

The company was set up in 2022 using money from the $500 million sale of salmon farming giants NTS and NRS to SalMar.

At the time, Gåsø hinted he might go back into the salmon farming business. The first major move came in January earlier this year, when Frøy Kapital acquired 4,761,904 shares in Måsøval, at a total cost of NOK 123.4 million ($11.7 million)

Måsøval expands fleet with wellboat charter from Frøy Kapital-backed Njord Aquashipping

Earlier this year, Måsøval and Frøy Kapital-backed company, Njord Aquashipping, entered into an agreement for a wellboat lease. Måsøval will rent the wellboat “MS Njord Kya” for three years, with two additional two-year options. The wellboat is currently under construction and is expected to be operational by the end of 2024.

Family-owned group Masoval, formerly Masoval Fiskeoppdrett, first began farming nearly 50 years ago, and remains family owned and is headed up by Chairman Lars Masoval, the son of founder Karsten Masoval.

Måsøval exports salmon to a global marketplace through its majority ownership in the processing and distribution company, Pure Norwegian Seafood AS.


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