Benchmark Genetics has officially joined as a portfolio company of Novo Holdings, a world-leading life science investor. This acquisition marks a significant milestone in Benchmark Genetics' journey toward greater innovation, expansion, and leadership in aquaculture genetics. The company is now under private ownership and has moved its headquarters to Bergen, Norway.
A vision for growth and development
Under Novo Holdings’ ownership, Benchmark Genetics will grow its position as a global leader, enabling the aquaculture industry to benefit from the huge potential of genetic improvement and technologies.
To achieve this, the company will focus on:
- Optimizing and strengthening its existing salmon and shrimp breeding programs to further improve the production performance of products
- Expanding strategically into new markets and species, harnessing the company’s leading expertise and technologies to enhance seafood production globally
- Investing in production and nucleus facilities globally, including in Norway, Iceland, and Chile, to enhance biosecurity, increase production capacity, and secure supply
- Building and strengthening strategic partnerships, including with key customers, suppliers, and R&D institutions
- Expanding its provision of genetic and genotyping services to help realize the benefit of genetic improvement on the production of multiple species and markets.
- Science, innovation, and technology translation in areas such as genomics, phenotyping, and reproductive biotechnology, including potential future gene editing solutions.
Novo Holdings has a strong track record in life sciences investments. The Life Science Portfolio spans more than 150 companies. The acquisition of Benchmark Genetics aligns with Novo Holdings’ strategic focus on planetary health and improving sustainable food production. The transaction follows on the heels of Novo Holdings’ investment in Stingray Marine Solutions, another Norwegian company that drives innovation in the aquaculture industry.
“We believe in the power of genetics to transform aquaculture to improve animal welfare and make food production more sustainable,” said Geir Olav Melingen, CEO of Benchmark Genetics. “With Novo Holdings as our new owner, we will realise our mission to provide high-performing sustainable genetic solutions that bring value to aquaculture producers worldwide and more healthy food to the table of consumers.”
Full ownership of Benchmark Genetics Salten
From April, Benchmark Genetics will also gain full ownership of its state-of-the-art land-based breeding facility in Salten, Norway, further strengthening its operational capabilities and ensuring the security of supply all year round. Twenty-five percent shares of the facility, previously owned by Salten Stamfisk AS, are now under the control of Benchmark Genetics.
Novo Holdings has agreed to acquire Benchmark Genetics from Benchmark Holdings plc for an enterprise value of up to £260 million. The deal includes an initial payment of £230 million and potential additional payments of up to £30 million based on revenue milestones.
With Novo Holdings' backing, Benchmark Genetics will continue to invest in innovation in aquaculture breeding globally to ensure the long-term sustainability of the aquaculture sector.
