Cermaq plans to acquire three salmon processing facilities from Grieg Seafood for Nkr10.2bn. The sites are in Finnmark, Norway, and in Canada. The deal is pending regulatory approval. Grieg Seafood is selling to focus on operations in Rogaland, Norway. Cermaq CEO sees the acquisitions boosting competitiveness and growth.

Grieg Seafood confirmed the plant sales and transaction price. The deal will position both companies and regions for the future. The transaction is expected to close in the final quarter of the year. Grieg Seafood will provide more information on its strategic direction in August.

Grieg Seafood reported first-quarter results with a decrease in sales revenue and harvest volumes. EBITDA declined, and losses widened. In fiscal 2024, the company faced challenges in Canada but saw growth in sales revenue and harvest volumes. EBITDA slumped, resulting in a net loss for the year.

Read more at Yahoo Finance: Cermaq buys three salmon plants from Norway peer Grieg Seafood