Scottish Sea Farms’ acquisition of Grieg Seafood Hjaltland UK has been cleared by the CMA
The UK's Competition and Markets Authority (CMA) has today cleared Scottish Sea Farms' bid to acquire Grieg Seafood Hjaltland UK, paving the way for the deal to complete.
In June 2021, Scottish Sea Farms – which is co-owned 50/50 by Lerøy Seafood Group and SalMar ASA – signed a Share Purchase Agreement to acquire 100 percent of the shares in Grieg Seafood Hjaltland UK from Grieg Seafood ASA for the purchase price of GBP 164 million.
Included in the deal are the company's freshwater hatchery, processing facility and 21 marine farms around the Shetland Islands and Isle of Skye which, combined, produced approximately 16,000 tonnes (HOG) of Atlantic salmon in 2020.
This complements the geography of Scottish Sea Farms' own operations across mainland Scotland, Shetland and Orkney, putting the salmon grower on track to produce 46,000 tonnes in 2022.
Commenting on the CMA announcement, Scottish Sea Farms Managing Director Jim Gallagher says, 'This is hugely positive news that promises farmers from both companies greater opportunity than ever before to create the best growing conditions, working collectively as one team with regards to the key factors of fish health, stocking regimes and sea lice management.
'This, in turn, will enable us to offer customers a more secure and stable supply of premium quality Scottish farmed salmon.'
It is anticipated that the acquisition, which will be financed with 100 percent cash consideration from Scottish Sea Farms, will complete as early as year-end.
For more information about Scottish Sea Farms visit their website, HERE.