Ode's CEO said this acquisition will contribute positively to local activity and employment in Stadlandet and support the company's continued growth in the region.
Photo: Ode.
If last year Ode became Norway's largest single supplier of cod, everything seems to indicate that in 2026 it will be able to maintain its leadership in Norwegian farmed cod and even increase that difference, as it has announced the acquisition of three more sites in Vestland from whitefish group Vesterålen Havbruk.
Both companies have signed an agreement whereby Ode acquires Vesterålen Havbruk's activities related to three cod farming sites—Apalset, Stokkeneset, and Rekvika—in the municipality of Stad. Previously, all of these were part of the listed company Statt Torsk and became part of Vesterålen Havbruk following the merger between the companies in 2024.
While Apalset and Stokkeneset have not been in operation in recent years, the Rekvika site has been jointly operated by Ode and Vesterålen Havbruk since 2024. Now, Ode has announced that it plans to start operations at all three sites in 2026, continuing its investments in the Vestland region, western Norway.
"Over the past years, Ode and Vesterålen Havbruk have cooperated to build a profitable and sustainable cod farming industry. This collaboration has been positive for both parties, and Ode has now chosen to further invest in these sites, which are located within our core production area for cod," said Ode's CEO, Ola Kvalheim.
"This acquisition will contribute positively to local activity and employment on Stadlandet and support our continued growth in the region," he continued, commenting on the Norwegian cod farmer's latest movement, after closing a year full of milestones, such as marketing the world's first cod raised using deep-water technology.
"We have demonstrated that it is possible to deliver consistently high quality at scale, while achieving low feed conversion, high survival rates, and strong growth performance," Kvalheim stated a few days ago, assessing the achievements. However, the CEO also said: "Our 2025 results represent an important milestone, but they are far from the end goal."
Commenting on the agreement that will allow the three cod farms in the municipality of Stad to continue operating, Vesterålen Havbruk CEO Brynjar Kværnstuen said, for his part, that the sale is a strategic decision for the whitefish group.
"We aim to concentrate our farming activities closer to our land-based facilities for slaughtering and further processing, where we see the greatest industrial synergies and long-term value creation for our company," he stated.
"Ode is a solid and highly competent operator within cod farming, and we are confident that the sites will be further developed in a sound and sustainable manner under their ownership," Kværnstuen added.