Marine Harvest to acquire Canadian salmon producer Northern Harvest

Food acquisition news : Norwegian seafood company Marine Harvest has struck a deal to acquire Canadian salmon producer Northern Harvest Sea Farm for CAD 315 million ($251.2 million).

The acquisition of the farmed salmon producer in Atlantic Canada is to help Marine Harvest implement its long term strategy of becoming a leading global integrated producer of seafood proteins.

According to the Norwegian seafood company, Northern Harvest has its own broodstock, smolt/hatchery, farming sites and processing operations.

Northern Harvest is likely to harvest 19 thousand tonnes of salmon in 2018. The Canadian salmon producer currently has 45 farming licenses located across Newfoundland and New Brunswick.

Northern Harvest also has 13 more farming licenses in application mode.

Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.

On the other hand, the Bergen-headquartered Marine Harvest claims to be the largest supplier of farmed Atlantic Salmon in the world. The Norwegian seafood company has operations across 24 countries and has a workforce of nearly 13,000 employees.

Marine Harvest, which provides farmed salmon and processed seafood to over 70 markets across the world, had a turnover of €3.6 billion in 2016. Its harvest volumes of salmon in 2016 was 381, 000 tonnes.

Marine Harvest acquisition of Northern Harvest will be subject to regulatory approvals and customary closing conditions.