March 6, 2025

Mowi announces strategic review of Feed division

Mowi on March 4 announced that it is initiating a strategic review of its integrated Feed division.

The review will assess all available options, including a sale.

In 2024, the Feed division generated operating revenues of €1,122 million (US$1,217 million) and operational EBITDA of €62 million (US$67 million). Its core assets include feed mills in Norway and Scotland with production capacities of 460,000 tonnes and 240,000 tonnes respectively. These plants supplied practically all of the feed requirements of Mowi's European salmon farming operations last year.

In total, Mowi's Feed division employs 140 FTEs.

"In just a few years, Mowi has grown from a 400,000-tonne farmer to approaching a 600,000-tonne farmer with production in seven countries and 11 farming regions, with all the complexity that entails," said Ivan Vindheim, Mowi's chief executive officer. "Mowi also has an extensive downstream business in 26 countries. In order to streamline our operations, we therefore feel the time is ripe to assess how our Feed division will be organised in the future."

Mowi has engaged Arctic Securities to assist with the review. While the company will now initiate a structured process, there is no certainty as to whether any transaction will arise, nor as to the terms thereof, Mowi said.

- Mowi