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Marine Harvest buys Newfoundland salmon co

24 December 2017, at 9:30pm

Marine Harvest has announced an agreement to acquire Northern Harvest, a leading East Coast Canadian salmon producer, in a deal worth CAD 315 million.

Northern Harvest is fully integrated, with its own broodstock, smolt/hatchery, farming sites and processing operations and is expected to harvest 19,000 tonnes of salmon in 2018.

It currently has 45 farming licences in Newfoundland and New Brunswick and has applied for an additional 13.

The transaction, will be paid in cash using available credit lines under Marine Harvest's existing revolving credit facility, is subject to approval by relevant competition authorities and customary closing conditions.

Senior Editor at The Fish Site
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