Finnforel premises in Varkaus, Finland.
Photo: Finnforel
Finnish aquaculture firm Finnforel has sold its entire shareholding in Alltech Fennoaqua to existing co-owner Alltech.
The Finnish rainbow trout firm originally acquired Fennoaqua in 2023, in partnership with Alltech and Heino Group.
"In the last couple of year’s Alltech Fennoaqua has successfully expanded into new geographical markets and proven its competitiveness. We are proud to see an increasing role of Alltech in supporting regional and sustainable aquaculture feed production," Finnforel stated, announcing the divestment on 2 July.
The Finnish land-based RAS rainbow trout farmer said the move will enable it to concentrate on its main area of expertise. “This allows us to further focus on our aquaculture business and pursue our growth plans for the coming years,” said Finnforel CEO Nora Hortling, via a press release. Hortling was appointed CEO in January of this year.
Alltech Fennoaqua CEO Tomi Kantola said that Alltech's expanded ownership meant "we are better positioned than ever to serve aquaculture producers with innovative, sustainable feed solutions", "all while supporting domestic food security and export growth.”
Despite the change in ownership, Finnforel and Alltech Fennoaqua indicated they would be continuing their relationship through a "strategic partnership".
“Finnforel remains an important customer and our cooperation will continue especially in the development of RAS feeds," Kantola said.
