© BioFeyn
Mowi, which expects the transaction to be closed in the second half of 2025, already holds 49 percent of Nova Sea's shares and CEO, Ivan Vindheim, said he was impressed by what the company have achieved.
“Nova Sea is a frontrunner in the Norwegian aquaculture industry and is known for its excellent biological performance and industry-leading margins. Over 50 years, the company and the Olaisen family have invested in the organisation and developed it into an impressive, fully integrated operation. It is therefore with great pleasure that we are now, after 30 years, combining our operations,” said Vindheim in a press release.
Following the deal, Mowi will have an expected harvest volume of 157,000 tonnes of salmon in northern Norway, 367,000 tonnes in total for Norway and 572,000 tonnes worldwide for the year.
“Nova Sea and Mowi are a very good match and this combination will benefit the company, fish welfare and the whole organisation. Value creation and community building along the coast, and especially in Northern Norway, is very important to us. I believe this will create more value and more jobs in Nordland over time,” said Aino Olaisen, chairman of Nova Sea, who has also been nominated as board member of Mowi.
Synergies and fish health
The integration is expected to yield significant synergies, including improved capacity utilisation by leveraging the location portfolio in Region North and by further strengthening biological performance through investments aimed at improving fish health.
Preliminary synergy estimates are in the range of NOK 400 million on an annual basis.
