Vindheim questions feed synergies: ‘Not as clear in reality as in theory.’
Mowi CEO Ivan Vindheim used his appearance at the North Atlantic Seafood Forum (NASF) to reinforce the company’s growth ambitions while acknowledging the challenges of integrating feed production with farming operations.
“Almost half of the world’s population eats Mowi salmon once a year,” Vindheim said. “The synergies between farming and feed are not as easy to catch sight of in real life as in theory. It wouldn’t hurt to take down the complexity of our business model a notch or two.”
His remarks follow Mowi’s announcement earlier this week that it is launching a strategic review of its Feed division, considering various options, including a potential sale. The division, which operates feed mills in Norway and Scotland, produces 700,000 tonnes annually and generated €1.12 billion in revenue in 2024.
Vindheim suggested that while Mowi could continue producing its own feed, the company is keeping its options open.
“We can always continue to produce our own feed if that’s what we find out in the process,” he said.
Mowi Expands Production Targets to 650,000 Tonnes
At NASF, Vindheim also pointed to Norway’s Production Area 8—where Mowi recently secured full control of Nova Sea—as a key part of the company’s expansion plans.
“It is fair to say that Production Area 8 in Norway is one of the best places in the world to produce Atlantic salmon,” he said. “These volumes will strengthen Mowi as an international powerhouse.”
Mowi has increased its 2029 production target to 650,000 tonnes. The company recorded 225,000 tonnes of volume growth from 2018 to 2026, a figure equivalent to SalMar’s total production, a stat the Mowi CEO pointed out with obvious relish.
