Nutreco and Holmoy Group to invest in land-based salmon farmer

Delicious salmon on farmer market in Paris, France
Delicious salmon on farmer market in Paris, France

Nutreco will invest €2M ($2.2M) in Andfjord Salmon, while Norwegian seafood group Holmoy will invest €788,771 ($897,086). This last operation will go through its fish farming company Eidsfjord Sjofarm, which already owns 66.400 shares in Andfjord Salmon.

In conjunction with the investment, Andfjord Salmon has entered into a long-term, running strategic feed supply agreement with Skretting. Andfjord Salmon will adapt their production volumes of Atlantic salmon to the feed supply volume on an ongoing basis.

The agreement states that Andfjord Salmon will issue, and Nutreco and Eidsfjord Sjofarm will, respectively, subscribe for 505.050 and 202.020 new shares in the Norwegian company established in 2014, through a directed private placement.

Sparebank1 Markets AS acted as sole financial advisor to Andfjord Salmon in this transaction.

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