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Nordic snaps up yellowtail kingfish shares

17 September 2020, at 11:48am

Land-based aquaculture specialist Nordic Aquafarms has bought up the remaining shares in two Danish kingfish producers.

Sashimi Royal has the capacity to produce up to 900 tonnes of yellowtail a year
Sashimi Royal has the capacity to produce up to 900 tonnes of yellowtail a year

The company announced this week that it had entered into an agreement with Sustainable Seafood Invest (SSI) regarding the acquisition of 50 percent of the shares in Maximus A/S and 32.5 percent of the shares in Sashimi Royal A/S, making both companies fully owned subsidiaries of Nordic Aquafarms.

“We have had an exciting journey together with SSI in developing this fantastic product,” said Nordic Aquafarms’ CEO, Bernt Olav Røttingsnes.

Both the companies produce yellowtail kingfish (Seriola lalandi). Maximus, which has its own broodstock, provides the juveniles, while Sashimi Royal grows them up to 5kg. Total annual harvest capacity is approximately 900 tonnes, with the potential for substantial on-site capacity expansion. The companies have produced yellowtail kingfish since 2017 with harvest and sales since 2018. The product is primarily sold to the premium HoReCa market in Europe.

“Nordic Aquafarms is the only land-based producer of two high value species; yellowtail kingfish and salmon, and the acquisition of the remaining share in the two Danish Yellowtail Kingfish companies enables us to focus even more on this fantastic product,” says Røttingsnes.

“We have made plans for further development of the companies and will evaluate how these can be implemented in the near future. With this acquisition we strengthen our biological diversification and expand the opportunity space for future projects globally.”

Nordic Aquafarms has two land-based aquafarms in production in the Nordics and farms under development in Maine and California in the US.

The group has an in-house multi-disciplined team of more than 55 employees to execute on its strategy to be a leading player in this growing industry. The group is uniquely positioned with an experienced RAS team of 10 employees in Aarhus, Denmark, Nordic Aquafarms Technology, and has proprietary technology delivered to the incumbent industry.

“Nordic Aquafarms has made tremendous progress the last years and is entering into a very exiting period with start of construction of our Maine project, permitting in California, and increased production of salmon in Norway and of yellowtail kingfish in Denmark. We have a non-site-specific technology and will continue to look for new locations for our aquafarms,” says Røttingsnes.