SalMar acquires salmon farmer Wilsgard in £130m deal
Norwegian salmon giant SalMar is to take full control of the smaller salmon company Wilsgard AS, it was announced today.
Wilsgard facility, Torsken
SalMar already owns 37.5% of Wilsgard and such a deal, worth around £130m, has been in the pipeline for several weeks.
SalMar said that the boards of the two companies had approved the merger plan, adding: “This merger will combine two strong players in fisheries and aquaculture, and we look forward to developing the opportunities this presents.”
It said Wilsgård is a well-run company that, like SalMar, operates aquaculture in one of the best areas in the world for salmon production. Wilsgård has a strong presence on Senja and has licences for 5,844 tonnes of MTB (biomass) in Northern Norway in production areas 10 and 11.
The statement added: “This merger will not only strengthen our position in the region, but also contribute to increased operational efficiency, cost reductions and financial robustness. Furthermore, the merger will support local value creation and regional development.
“We have great ambitions for the future and look forward to further developing the combination of our companies. For SalMar, Senja is a core area with large operations in both hatchery, production at sea and processing.
“Together with Wilsgård, we will become an even stronger force for value creation and employment in Senja and Northern Norway. Our goal is to strengthen a sustainable and robust business that can deliver high quality and value throughout the entire value chain. We will therefore use the time ahead to get to know the business better in order to realize this.
The merger values Wilsgård at NOK 1,767 million. The consideration for the merger consists of a combination of shares and cash, with 80% in shares issued by SalMar and 20% in cash.
SalMar already has a 37.5% ownership interest in Wilsgård, and no consideration will be paid for this portion.
The merger is expected to be completed during the summer of 2025, subject to, among other things, necessary approvals from relevant authorities
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