Grieg Seafood has signed an agreement to sell its businesses in Finnmark and Canada to Cermaq for NOK 10.2 billion on a cash and debt free basis. The deal includes Grieg Seafood Finnmark, Grieg Seafood Newfoundland, Grieg Seafood British Columbia as well as Grieg Seafood’s North American sales organization.

Going forward, Grieg Seafood will develop the company based on its Rogaland region in Western Norway.

“This transaction will position both Grieg Seafood and the regions for the future. It allows us to concentrate focus and resources in Rogaland. We aim to continue to be a strong actor in the advancement of sustainable aquaculture in Norway,” says Nina Willumsen Grieg, CEO of Grieg Seafood ASA.

Cermaq is well positioned to take the Finnmark, Newfoundland and British Columbia regions further.

“Cermaq shares our values of farming with the lowest possible environmental impact and highest possible fish welfare, as well as of respecting and contributing to the rural and Indigenous communities where the operations take place. We are confident that the regions are in the best hands and that they will continue to create local value long into the future,” says Willumsen Grieg. “Significant values have been created over many years. I want to sincerely thank all employees for their dedication to the company.”

The deal is subject to customary closing conditions, including approvals by relevant competition authorities.

In Rogaland, Grieg Seafood is targeting a harvest of 30,000 tonnes in 2025.