Cermaq acquires new Norwegian business

The salmon giant Cermaq is expanding its Norwegian business with the purchase of the family owned company Ballangen Sjøfarm.

Based in the north of the country, Ballangen Sjøfarm employs around 50 people and produces 10,000 tonnes of salmon a year.

Otto Bakke, one of the founders said that after 13 years of co-operation with Cermaq he was sure this was the best solution to ensure activity and development in the region.

Cermaq, which is owned by the Japanese industrial giant Mitsubishi, already has a stake in the business.

Ballangen Sjøfarm currently has three owners; Ballangen Holding, Ballangen Utvikling and Cermaq, where the latter two will form the owners going forward. Cermaq will become the majority owner, with final ownership shares between Ballangen Utvikling and Cermaq to be clarified later.

The company was started in 2001 and Otto Bakke said it was important it should continue to be an important cornerstone and safe workplace for the community where it is based.

 “We have been concerned that Ballangen Sjøfarm’s employees and operations should continue and continue to be developed,” said Otto Bakke.

“This is included as part of the agreement. Ballangen Sjøfarm will thus be able to face the future even more solidly.”

This means that both the company name and administration will be maintained in Ballangen and the purchase will not entail any changes for the company’s 50 employees.

“Having cooperation with Cermaq since 2011 has been a great advantage, which operations and results clearly show. Therefore, we are confident that the future looks bright for employees and the company’s further development when Cermaq buys the company”, said the chairman of Ballangen Holding, Svein Bakke.

In the joint operation since 2011, Ballangen Sjøfarm has been responsible for the day-to-day operations at sea, while Cermaq has been responsible for smolt, slaughter, processing and sales in addition to operational support for lice treatments and service operations.

Accounting and financial services have also been part of this. The companies are therefore well acquainted with each other.

Cermaq Norway CEO Knut Ellekjær, said he was happy to forge even closer ties with Ballangen Sjøfarm.

“We are both humbled and proud to be the preferred buyer of one of the country’s best-run farming companies with 50 skilled employees. As the owner of locations in small coastal communities in Nordland and Finnmark, we know how important Ballangen Sjøfarm is to the people who live there and the ripple effects this creates. We will strengthen this with great faith in increased activity for the company going forward”, Ellekjær added.