Trout farmer Firda makes new acquisition
The Firda Seafood group, one of Norway’s major trout farmers has reached agreement to purchase a majority stake in the smaller aquaculture company Landøy Fiskeoppdrett.
Firda will take a 51% share of the business while the Landøy family, which founded the business will retain 49% ownership and continue to work for the company.
Landøy Fiskeoppdrett was established in 1980 by the brothers Ingvar and Jarl Landøy and has licences for both salmon and trout.
Firda gave up salmon farming almost five years ago to concentrate on purely on “fjord trout” (otherwise known as rainbow trout) and it now looks as if the same will happen with its new acquisition.
CEO Roar Landøy said: “It has been a long and patient process that has led to the choice we have now made.
“We have experienced over many years that it is difficult to be a small player with limited access to locations and production. You become very vulnerable. Through this joint ownership, we want to strengthen production capabilities, gain access to other resources than we have had alone, and spread the risk.
“We also want to focus on the production of rainbow trout in the future, and Firda is a leading player in this.”
Landøy Fiskeoppdrett has all of its production in the sea around Værlandet in Askvoll municipality. Firda Seafood Group also has facilities in the same area and elsewhere plus smolt production in a number of locations.
Through the agreement, Landøy Fiskeoppdrett will continue as its own company, while gaining access to services such as boats and staff organisation from the Firda organisation.
Landøy Fiskeoppdrett has used SCA as its advisor in the process, while Sparebank 1 Markets has been Firda Seafood Group’s advisor.
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