June 28, 2022

Jerónimo Martins purchases 10.1% stake in Norwegian Andfjord Salmon

Portugal-based international food industry group, Jerónimo Martins, has purchased a 10.1% stake worth NOK 173.9 million (US$17.7 million; NOK 1 = US$0.10) in Norwegian on-land fish farmer Andfjord Salmon, Fish Information & Services reported.

Andfjord Salmon will stock its first smolts this month and intends to eventually produce 69,000 gutted weight tonnes of salmon annually at three locations on the island of Andya.

Large flow-through tanks are being built into the bedrock below sea level by Andfjord, which claims that this innovation significantly reduces the power needed to pump seawater into the tanks from a depth of 25m to 30m in the summer and from 160m in the winter. According to Andfjord, the energy cost to produce one kilo of fish is roughly NOK 1 (~US$0.10).

The Norwegian fish farm company will be able to collect sludge for reuse as fertiliser, just like other on-land salmon farms, and shouldn't encounter any issues with sea lice, algae, predators, or interactions with wild fish.

Pedro Soares dos Santos, chairman and CEO of Jerónimo Martins, said Andfjord Salmon's project is focused on using efficient technology to produce salmon with less impact on natural resources, thereby contributing to conservation and sustainably use the ocean, the sea, and marine resources.

The aquaculture division of Jerónimo Martins Agro-Alimentar runs three marine fish farms, two in Portugal and one in Morocco. It produced 1,400 tonnes of sea bass and sea bream overall in 2021.

-      Fish Information & Services