Cod farmer Norcod targets continued export growth with renewed Sirena deal

Norwegian aquaculture company Norcod AS has renewed its long-term strategic sales and distribution agreement with seafood marketing and distribution specialists Sirena Group, extending the partnership until 1 October 2031. In a stock exchange announcement, the company said the move is part of what it described as its "ongoing work to optimize its value chain and securing a strong platform for future growth".

Under the agreement, Sirena will continue to handle sales, marketing and logistics for Norcod’s premium fresh farmed cod.

“Working with Sirena Group gives Norcod a decisive advantage. Their global network and proven strength in seafood markets give us direct access to the right customers worldwide. Equally important, Sirena’s expertise in building the market position of premium seafood species is of direct value to Norcod, as this is a key mission in the years ahead," said Norcod CEO, Christian Riber.

"Together we are ensuring that the most optimal effort is made to build and sustain strong pricing with the best global customer base, while Norcod remains focused on delivering efficient and profitable production," Riber added.

Sirena Group’s chief executive Boe Spurré described the company as “proud to continue our close cooperation with Norcod”. He added: “Snow Cod has all the attributes to become a leading premium product in the international market, and Sirena is committed to supporting its success with our global reach and market expertise.”

Norcod also announced a new long-term incentive programme for senior management on the same day as the Sirena agreement, enabling the CEO and other senior executives to purchase company shares at a fixed price over several years. The company said the scheme is intended to align executives’ interests with those of shareholders through the granting of share options that can be exercised from 2028.

The cod farmer, which operates fish farms in Mid-Norway and along the Helgeland coast, reported in August that it had reduced its losses and increased its revenues during the second quarter of 2025. The company secured two additional sites this year, which it says are due to become fully operational in 2026, including at Snyen in Meløy municipality, taking Norcod's total to six active farming sites.