SalMar pays €64 million for 45 per cent stake in Refsnes Laks

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Consolidation in Central Norway continues.

SalMar has today, 25 August, entered into an agreement to acquire a 45 per cent ownership stake in fish farmer Refsnes Laks through a combination of share purchases and a private placement. Refsnes Laks currently has five permits for the production of a total of 3,932 tonnes.

The purchase price for the transaction is NOK 665 million (€64 million), according to a press release from SalMar.

The chairman of the board of Refsnes Laks, Ivar Refsnes, emphasized that for many years a close and value-creating collaboration has been developed between SalMar and Refsnes. This applies to production, processing and sales in an international market. SalMar’s acquisition of a significant ownership interest in the company is a natural continuation of this collaboration.

“It will strengthen the financial basis for the company with its base in Åfjord municipality. This is a good solution for both parties,” said Refsnes.

The transaction provides SalMar with further sustainable growth in the immediate vicinity of existing fish farming areas in Central Norway, and it will be a good industrial solution that ensures significant synergies and further development of existing activity and operational competence, SalMar reports.

Completion of the transaction is subject to approval by the Norwegian Competition Authority.