Norwegian seafood firm Pan Fish ASA announced on Monday (2 January) the purchase of the remaining 66.66% of Kritsen Group, a leading European producer of salmon with a significant market position in countries including France and Italy.
After the share purchase Pan Fish will own 100% of the shares in Kritsen.
With an expected turnover for 2005 of NOK445m (US$66m), Kritsen operates under its own brand and through private labelling for its customers.
Pan Fish also announced its intention to increase its shareholding in seafood exporter Aalesundfisk from 27.4% to 44.2%, investing NOK9.75m in Aalesundfisk’s new share issue.
The Kritsen Group, Aalesundfisk and Pan Fish France will constitute the backbone of a new value added division in Pan Fish, making Pan Fish be one of the largest value adding producers of salmon targeted directly at the consumer.