Nordic Aquafarms acquires remaining shares in Sashimi Royal and Maximus

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RAS land-based salmon farmer strengthens its position within yellowtail kingfish.

In a statement, land-based salmon farmer Nordic Aquafarms writes that it has entered into an agreement with Sustainable Seafood Invest (SSI) regarding the acquisition of 50 per-cent of the shares in Maximus and 32.5 per-cent of the shares in Sashimi Royal, making both companies fully owned subsidiaries of Nordic Aquafarms.

Group CEA in Nordic Aquafarms Bernt Olav Røttingsnes said that the company had an “exciting journey together with SSI” in developing the plan.

The two Danish companies produce yellowtail kingfish. Maximus is the hatchery with its own broodstock and Sashimi Royal is the grow-out producing fish from 50g to 5kg. Total annual harvest capacity is approximately 900 tonnes, with potential for substantial on-site capacity expansion. The companies have produced yellowtail kingfish since 2017 with harvest and sales since 2018. The product is primarily sold to the premium HoReCa market in Europe.

“Nordic Aquafarms is the only land-based producer of two high-value species; yellowtail kingfish and salmon, and the acquisition of the remaining share in the two Danish Yellowtail Kingfish companies enables us to focus even more on this fantastic product,” said Røttingsnes.

“We have made plans for further development of the companies and will evaluate how these can be implemented in the near future. With this acquisition, we strengthen our biological diversification and expand the opportunity space for future projects globally,” he added.

Nordic Aquafarms has two land-based fish farms in production in Scandinavia and has sites in development in Maine and California in the US.

“Nordic Aquafarms has made tremendous progress the last years and is entering into a very exciting period with start of construction of our Maine project, permitting in California, and increased production of salmon in Norway and of yellowtail kingfish in Denmark. We have a non-site specific technology and will continue to look for new locations for our aquafarms,” said Røttingsnes.