Norwegian salmon farmer Måsøval has entered into an agreement with Nordic Halibut AS (NOHAL) regarding Pure Norwegian Seafood AS (PNS), securing long-term slaughter capacity for NOHAL and setting the stage for a potential ownership transfer.
Måsøval, which acquired a 65% stake in PNS in June 2021, has historically used the company for slaughter and fish sales. However, the company now operates fully owned slaughter and sales divisions, reducing its reliance on PNS.
The agreement ensures that NOHAL will have access to long-term slaughtering capacity at PNS. Additionally, Måsøval and NOHAL have signed an option agreement, allowing NOHAL to take full ownership of PNS, subject to approval from minority shareholders.
PNS is one of the few Norwegian processors with expertise in halibut slaughter. NOHAL has outlined plans to increase its annual halibut production to 10,350 tonnes HOG by 2031, and securing slaughter capacity at PNS is expected to support this growth strategy.
Despite previously disclosed operational challenges at PNS, Måsøval stated that it has prioritized ensuring stability for the company and its employees. The agreement with NOHAL represents a long-term solution for continued operations in Averøy.
The option agreement remains conditional on securing agreements with PNS’s minority shareholders. The companies did not disclose a timeline for when NOHAL may take full control of PNS.
