Benchmark Genetics sale now completed

The Benchmark Group announced in November that it had agreed to sell its genetics arm to Novo Holdings, the holding and investment company responsible for managing the assets and the wealth of the Novo Nordisk Foundation.

The sale valued Benchmark Genetics at up to £260m on, including an initial consideration of £230m and an additional contingent consideration of up to £30m in the form of an earn-out.

As of today, 1 April, Benchmark Genetics’ headquarters moves to Bergen. The company said: “This acquisition marks a significant milestone in Benchmark Genetics’ journey toward greater innovation, expansion, and leadership in aquaculture genetics… under Novo Holdings’ ownership, Benchmark Genetics will grow its position as a global leader, enabling the aquaculture industry to benefit from the huge potential of genetic improvement and technologies.”

Geir Olav Melingen, CEO of Benchmark Genetics, said: “We believe in the power of genetics to transform aquaculture to improve animal welfare and make food production more sustainable.

“With Novo Holdings as our new owner, we will realise our mission to provide high-performing sustainable genetic solutions that bring value to aquaculture producers worldwide and more healthy food to the table of consumers.”

Also from today, Benchmark Genetics will gain full ownership of its land-based breeding facility in Salten, Norway, with the aim of further strengthening its operational capabilities and ensuring the security of supply all year round. The 25% share in the facility, previously owned by Salten Stamfisk AS, is now under the control of Benchmark Genetics.