Norwegisn salmon farmer Kvarøy Fiskeoppdrett has sold a 50 percent stake in its smolt division.
Under the agreement, announced on Monday, Kobbvaglaks and Seløy Sjøfarm, both based in central Norway, will each acquire a 25 percent share of Kvarøy Smolt, while Kvarøy will retain the remaining 50 percent
Financial details of the transaction were not disclosed.
Kvarøy Smolt, situated in Mo Industripark, Mo i Rana, Norway, boasts a production capacity of approximately 9 million smolt. The facility has undergone substantial upgrades in recent years, with total investments exceeding NOK 300 million ($27.7 million).
Managing Director Jan-Terje Mikalsen of Kobbvaglaks and CEO Jan Erik Jakobsen of Seløy Sjøfarm expressed optimism about the acquisition, citing the potential for enhanced farming operations with access to high-quality smolt. Kvarøy Fiskeoppdrett’s Managing Director, Alf-Gøran Knutsen, welcomed the new ownership, anticipating an infusion of expertise to propel further development within the division.
According to Kvarøy, multiple parties expressed interest in the investment, with the sale process facilitated by ABG Sundal Collier.
