Kvarøy Smolt plant is located in Mo Industripark, in Mo i Rana, Norway, and produces approximately 9 million smolts annually.
Seløy Sjøfarm AS
Kvarøy Fish Farming AS has announced that it has entered into a partnership with Kobbvåglaks AS and Seløy Sjøfarm AS for its wholly-owned subsidiary Kvarøy Smolt AS.
Consequently, Kvarøy, Kobbvåglaks, and Seløy will have an ownership of 50%, 25%, and 25% respectively in Kvarøy Smolt. ABG Sundal Collier ASA has been the financial advisor in the transaction.
Kvarøy Smolt plant is located in Mo Industripark, in Mo i Rana, Norway, and produces approximately 9 million smolts annually. It has made investments worth more than NOK 300 million and has possibilities for expansion due to the licenses obtained.
The facility has ASC, Global GAP, Best Aquaculture Practices, and Whole Foods certifications, Seløy confirmed through a statement published on its website.
Regarding this strategy, Alf-Gøran Knutsen, managing director of Kvarøy Fish Farming, said: "We are very pleased to bring Kobbvåglaks and Seløy into the ownership of Kvarøy Smolt. These are two good breeders that we know well, in whom we have great confidence, and who will be able to add a lot of positives to the company both in the short and long term."
On the other hand, Jan-Terje Mikalsen, managing director of Kobbvåglaks noted: "We are looking forward to the partnership, and it has been strategically important for us to secure smolt access from a good and reliable facility, which we feel we have now achieved."
Finally, Jan Erik Jakobsen, managing director of Seløy Sjøfarm, noted: "We believe the facility delivers smolt quality and has a level of biosecurity that makes us very happy to enter into this partnership. We also believe that we should be able to contribute positively to the further development of the company."