Norway-based seafood giant Marine Harvest and Angulas Aguinaga of Spain have terminated a five-year-old partnership for the production and marketing of salmon products.
Under the joint venture, the two companies produced and marketed salmon-based products in Spain and Portugal, but have decided to halt the operation to “better align with their respective strategies and specific business models,” according to Oslo-listed Marine Harvest.
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“The two companies came to a mutual agreement on the termination of their collaboration and have been working together on a transition plan in order to avoid any impact on consumers and distributors,” Marine Harvest said in a statement.
However, both firms remain “committed” to the salmon category.
Marine Harvest entered the venture in Spain with Angulas Aguinaga in 2013 with a view to combining the former’s salmon production and processing capabilities with the latter’s expertise in commercializing brands and value-added products.
Angulas Aguinaga’s portfolio revolves around three brands: Krissia, La Gula del Norte and Aguinamar.
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By GlobalDataStill, Marine Harvest has other projects in the pipeline. In May, the company announced it plans to open new plants in China and Sweden this year. With the Chinese market re-opening to Norwegian salmon producers, Marine Harvest said it is seeking to open a factory in Shanghai, adding to six existing sites spread across Asia: one each in Taiwan, South Korea and Vietnam, plus three in Japan.
