Oslo-based processor and exporter, First Seafood, owned by Norwegian giant Insula, has completed the acquisition of 100% of the shares in Insula Hvide Sande as of September 1, 2024, to enhance its filleting capacity.
This acquisition increases the company’s annual salmon filleting capacity to 40,000 tons.
First Seafood, which opened its first fillet factory in Kongsvinger, Norway, in 2022 and a second factory in Godvik/Bergen earlier this year, views the acquisition as a strategic move, according to a press release from the company on Tuesday.
The location in Denmark broadens the company’s sourcing base, allowing for the purchase of salmon from Iceland, the Faroe Islands, Scotland, and Norway.
“We are very pleased to take over Insula Hvide Sande. This acquisition not only increases our total filleting capacity but also brings us closer to our customers in Europe and overseas markets,” said Roy Olsen, CCO of First Seafood.
The Hvide Sande factory has a long history in seafood, initially dealing with whitefish and shellfish before transitioning to salmon fillet production in recent years. First Seafood CEO Andreas Sundnes noted the shared history between First Seafood and the newly acquired facility, emphasizing the company’s commitment to growth and success.
