Síldarvinnslan hf. acquires a 34.2% share in the Norwegian salmon farming company Arctic Fish Holding AS

By Jordan Whittle - June 13, 2022

10/6/2022 | News

Síldarvinnslan hf. has entered into an agreement with Bremesco Holding Limited together with a group of shareholders, who own a total of 10,899,684 shares, or 34.2%, in Arctic Fish Holding AS for the purchase of their shares in the company. The purchase price is NOK 1,089,968,400 and will be paid in cash, which will be partly financed by raising loans.

Arctic Fish Holding AS is listed on the Euronext Growth Market in Oslo and the company owns 100% of the shares in Arctic Fish ehf. which is one of the leading salmon farming companies in Iceland and operates fish farms in the Westfjords, where the company has a license for over 27 thousand tonnes for aquaculture.

Gunnþór Ingvason, CEO of Síldarvinnslan, says the following about the acquisition:

“Salmon farming is a fast-growing industry that we have been following in recent years. Increased resources and knowledge have entered the industry in recent years and we believe there are great opportunities.

We buy just over a third of Arctic Fish Holding AS, which is majority owned by a Norwegian aquaculture company with extensive knowledge and experience in the industry. We are happy to have the opportunity to work with them in strengthening the company.

The company has ambitious plans and has been in a major investment and development phase in recent years. We see opportunities in increased cooperation between aquaculture companies in the area. “

Press release obtained from Síldarvinnslan hf and translated into English