Mowi completes acquisition of Arctic Fish
The Icelandic company operates its own hatchery and recently announced expansion plans.
Mowi acquired 51.28% of the shares in Icelandic farmer, Arctic Fish, from SalMar. Arctic Fish is one of the leading salmon farmers in Iceland, situated in the West Fjords with favorable conditions for salmon farming. The acquisition price amounts to €181 million.
Arctic Fish has licenses for ten ASC-approved sites in total, providing a maximum allowed biomass of 27,100 tonnes and another 4,800 tonnes pending approval. The company also operates its own hatchery and recently announced expansion plans.
“The Icelandic salmon farming industry is set for extensive development and growth in the coming years and we take great pleasure in this opportunity to play a part. Icelandic waters provide excellent growth and living conditions for the salmon,” said Ivan Vindheim, CEO of Mowi.
Mowi is one of the world's leading seafood companies and the largest producer of farm-raised salmon in the world with 466,000 GWT harvested in 2021 in six farming countries including Norway, Scotland, Ireland, Faroes, Canada and Chile.