October 24, 2020

2 salmon farming companies in merger talks

Norway Royal Salmon and Midt-Norsk Havbruk are in talks over a possible merger, Fish Farmer reports.

The report said the two companies have confirmed rumors circulating for some time about the merger, with a possible third company becoming involved too.

A statement said that exploratory talks were taking place with no definite outcome so far. Additional information would be issued at the appropriate time, it said.

Norway Royal Salmon (NRS) was founded in 1992, following an initiative by 34 fish farming companies. It has since expanded extensively and has reported second-quarter operating revenues of NOK1.3 billion (£107 million).

NRS has developed Arctic Offshore Farming, which re-creates the salmon's natural environment to the greatest possible extent.

Midt-Norks Havbruk, which is engaged in smolt production and food fish production and processing, was also founded in 1992 and was acquired by the larger and fully integrated NTS aquaculture group in 2017.