Norwegian salmon processor SalMar has struck a deal to acquire a majority stake in local fish farming peer Måsøval.
In a statement yesterday (8 July), SalMar said it had reached an agreement to buy a 70% stake in the Atlantic salmon business from the Måsøval family-owned investment firm Heimstø.
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The deal will see SalMar buy the stake for Nkr3.4bn ($349.2m). The transaction values the whole of Måsøval at Nkr4.84bn.
SalMar will hand over 733,906 of its own shares in the deal, equating to 10% of the sale price. The remainder of the acquisition will be paid in cash.
According to its website, Måsøval is a business managing the smolt production process up to the sale of salmon to markets worldwide. The business is headquartered on the island of Frøya, in western Norway.
The group’s farming activites take place across the Norweigian coastline from Vartdal to Frøya.
In its statement, SalMar said the deal is expected to provide “improved utilisation of resources, expertise and infrastructure, strengthen innovation capability, and facilitate further development on the salmon’s terms and long-term value creation along the Norwegian coastline”.
The group also said the transaction “builds on a shared history and a common heritage on Frøya, which has played a formative role in shaping modern Norwegian aquaculture”.
SalMar CEO Frode Arntsen added: “We believe this represents an exciting industrial opportunity that will strengthen SalMar’s position in central Norway, one of our most important core regions for aquaculture.
“Måsøval is a historically well-established and well-managed company with strong roots in the region, and its operations are a good fit with SalMar’s existing activities.”
As part of the transaction, Heimstø will have 12 months from completion of the deal to sell SalMar’s shares back for Nkr39.50 per share.
According to Heimstø’s website, it has also invested Icelandic salmon group Kaldvík.
Last year, SalMar inked a deal to acquire salmon producer Wilsgård through a merger. The transaction valued Norwegian aquaculture company at Nkr1.76bn (then $168.8m).
SalMar already owned a 37.5% stake in Wilsgård. The transaction was first proposed in February 2025 was confirmed the following April.
