Aquaculture for all

Nova Sea becomes major investor in Torghatten Aqua

Atlantic Salmon Economics People +5 more

Salmon producer Nova Sea hopes the investment will help to continue the sustainable growth and development of aquaculture within the Helgeland region of Norway.

Øyvind Løvdahl, Torghatten Aqua chief executive, emphasised the shared ambitions of the two companies

© Torghatten Aqua

Nova Sea - one of Norway’s largest salmon producers - has announced a significant investment move, as it becomes a majority shareholder in Torghatten Aqua - another Norwegian salmon producing company - with a stake of 33.4 percent, according to a press release from the companies.

In recent years, Nova Sea has invested aggressively, with billion-dollar investments in a new slaughterhouse, a new hatchery and the purchase of farming volume on Helgeland.

“The investment and collaboration with Torghatten Aqua fits in very well with Nova Sea's investment,” said Aino Olaisen, chairman of Nova Sea.

“In addition, Torghatten Aqua's subsidiary Campus BLÅ actively contributes to the recruitment of competent labour, which is crucial for the venture to be successful,” she added.

The farming operations of the companies will eventually be operated in collaboration. Øyvind Løvdahl, chief executive at Torghatten Aqua explained that the two companies have been collaborating for decades, and that they have similar ambitions they hope to work towards, together.

“They have a common ambition for growth and development, both in the companies, the industry and the region. We are therefore pleased that we will be able to actively take part in this in the future,” said Løvdahl.

“We have spent a lot of time since last summer getting to know each other's businesses, and mapping out synergies and opportunities that the collaboration opens up. We are therefore convinced that what we have arrived at will be very positive for both companies, for the employees and for the shareholders,” said Tom Eirik Aasjord, chief executive officer at Nova Sea.

Create an account now to keep reading

It'll only take a second and we'll take you right back to what you were reading. The best part? It's free.

Already have an account? Sign in here