Grieg Seafood has sold its businesses in Canada and northern Norway to global salmon farming giant Cermaq for 10.2 billion kroner (US$990 million).
The deal includes the international Atlantic salmon farmer's operations in British Columbia, Newfoundland, Finnmark, Norway, and its North American sales organization.
This sale will set up both Grieg Seafood and the regions for the future, said Nina Willumsen Grieg, Grieg Seafood CEO in a media release on Thursday (July 17).
“Cermaq shares our values of farming with the lowest possible environmental impact and highest possible fish welfare, as well as of respecting and contributing to the rural and Indigenous communities where the operations take place," Willumsen Grieg said. "We are confident that the regions are in the best hands and that they will continue to create local value long into the future."
In the winter, due to economic uncertainty around tariffs coming from the United States and a looming ban on open-net salmon farming in British Columbia, Grieg Seafood announced it was halting investments in the province.
READ MORE: Grieg Seafood halts investments in B.C. amid U.S. tariffs threats, salmon farm ban
More than 120 employees work for Grieg Seafood British Columbia. Today, the region has 11 seawater farms on the east and west coasts of Vancouver Island, a land-based freshwater facility in Gold River and offices in Campbell River. The North American sales office is located in Vancouver.
More to come ...
