SalMar Purchases Salmon Group

The Fish Site
by The Fish Site
26 May 2010, at 1:00am

NORWAY - SalMar has agreed to purchase the salmon farming Rauma Group.

SalMar will purchase 100 per cent of the shares in Reistad Eiendom, a company owning 74 per cent of the shares in Rauma Group.

The purchase price is expected to be NOK 316.2 million (€39 million).

The transaction is subject to a due diligence process, the establishment of a sale and purchase agreement, regulatory approval as well as board approval in both SalMar and Reistad Eiendom.

Rauma Group has eight licences for salmon farming in Central Norway. In addition to activities within roe and smolt production. Rauma Group also owns 51 per cent of Vikenco, a company engaged in primary processing.

The Group harvested 6,400 tons (gutted weight) in 2009, with a turnover of NOK 366 million and EBIT of NOK 41 million. The Group harvested approximately 2,150 tons (gutted weight) in Q1 2010, with a turnover of NOK 71 million, EBIT was NOK 23 million (un-audited).