Mowi's feed mills have a combined production capacity of 700,000 tonnes per year.
Photo: Mowi.
Mowi is considering selling off its integrated feed division, the company announced this morning in an announcement published on the Oslo Bors stock exchange.
The Norwegian company, the world's largest salmon farmer, said it is conducting a strategic review of Mowi Feed, its integrated Feed division, assessing "all available options, including a sale".
"In just a few years Mowi has grown from a 400,000 tonnes farmer to approaching a 600,000 tonne farmer with production in seven countries and 11 farming regions with all the complexity that entails," said Mowi CEO Ivan Vindheim.
"Mowi also has an extensive downstream business in 26 countries. In order to streamline our operations, we therefore feel the time is ripe to assess how our Feed division will be organised in the future," Vindheim stated.
To assist with the review process, Mowi has engaged Norwegian investment bank Arctic Securities.
However, the company has emphasized that there is "no certainty" a transaction will occur or under what terms it might take place, saying it will provide further updates as necessary but will make no further comment "unless and until a definitive agreement is reached or the process is terminated."
According to the company, Mowi Feed generated operating revenues of EUR 1.12 billion (USD 1.18bn) in 2024, with an Operational EBITDA of EUR 62 million (USD 65m).
Its key assets include two "state-of-the-art" feed mills in Norway and Scotland, with a combined production capacity of 700,000 tonnes annually, covering nearly all the feed requirements of Mowi’s European salmon farming operations. The division currently employs the equivalent of 140 full-time members of staff.
The company recently announced that both of these feed mills, Valsneset in Norway, which opened in 2014, and Kyleakin in Scotland, which opened in 2019, have achieved ASC certification, described by Mowi's Chief Sustainability and Technology Officer, Catarina Martins, as "an important milestone" which was necessary "to maintain the ASC certification at our European farming sites."
Mowi closed 2024 with record-high harvest volumes and earnings, reporting a turnover of EUR 5.6 billion (USD 5.8 billion), and 502,000 tons of salmon harvested. The company is headquartered in Bergen, Norway, and employs 11,800 people in 26 countries worldwide.
