AquaGen acquires majority share in AquaSearch ova

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Norwegian company AquaGen has agreed to purchase 51 percent of the shares in Danish-based breeding company AquaSearch ova Aps, one of the world’s leading suppliers of genetics for the portion-size trout market.

Globally, portion-size trout is one of the fastest-growing aquaculture sectors and has become an important segment of the animal protein market. Production in 2016 was 650,000 tonnes, with annual growth of 5 to 7 percent over the last 3 years.

AquaSearch ova, established in 2006, is a global player in breeding and egg production of trout.

From its headquarters in Billund, the company has developed a competitive product portfolio with cost-effective production and distribution from its six manufacturing facilities in Denmark. A high level of bio-security enables the company to access all global trout markets.

Europe and Chile

“Our association with AquaSearch ova represents an important strategic milestone for AquaGen. With this we get a new platform for growth and value creation, helping AquaGen to maintain and strengthen its commitment to trout breeding. Due to a limited market for large trout, many breeding companies in Europe and Chile have chosen to close down their breeding programs for trout,” says Odd Magne Rødseth, Chairman of AquaGen.

“AquaSearch ova’s strong position within the portion-size trout sector completes our commitment to all farmed species of salmon and trout. There is great potential for AquaSearch ova and AquaGen to create interesting synergies through exchange of experience, cooperation on R & D and the use of joint technology platforms in the breeding work,” Rødseth adds.

Long-term commitment

“This transaction is very positive for the trout industry, because it helps to provide advanced technology and research resources to more trout farmers around the world”, said Torben Nielsen, CEO of AquaSearch ova.

“I’m glad that we will be part of a group that has a long-term commitment to developing and disseminating trout genetics. The ability to share knowledge and breeding technology within different species will strengthen the development necessary to meet the rapidly growing demand for seafood.”