Norwegian firm AquaGen acquires 51% of Danish trout breeder
AquaGen AS of Norway has inked an agreement to purchase 51% of the shares in the Danish trout breeder AquaSearch ova ApS.
AquaSearch ova, established in 2006, is a leading global player in breeding and egg production of trout, as well as one of the world's leading suppliers of genetics for the portion-size trout market. From its headquarters in Billund, the company has developed a product portfolio with a cost-effective production and distribution from its six broodstock farms in Denmark. A high level of bio-security enables the company to access all global trout markets.
"Our association with AquaSearch ova represents an important strategic milestone for AquaGen. With this we get a new platform for growth and value creation, helping AquaGen to maintain and strengthen its commitment to trout breeding", said Odd Magne Rødseth, chairman of AquaGen.
He added that due to a limited market for large trout, many breeding companies in Europe and Chile have chosen to close down their breeding programmes for trout. "AquaSearch ova's strong position within the portion-size trout sector completes our commitment to all farmed species of salmon and trout. There is a great potential for AquaSearch ova and AquaGen to gather interesting synergies through exchange of experience, cooperation on R & D and the use of joint technology platforms in the breeding work".
Torben Nielsen, CEO of AquaSearch ova, for his part, said, "This transaction is very positive for the trout industry, because it helps to provide advanced technology and research resources to more trout farmers around the world".