Overview

• Cermaq will purchase Grieg Seafood’s processing facilities in Finnmark, British Columbia and Newfoundland along with its North American sales division for Nkr10.2 billion.
• The agreement signed on July 17 is subject to approval by competition regulators and is slated to complete in Q4 2025.
• Grieg Seafood will exit its Canadian operations to concentrate resources on its core salmon farming business in Rogaland, Norway.
• Canada’s federal plan to phase out open-net pen salmon farms by 2029 has spurred consolidation as companies seek regulatory certainty.
• As a Mitsubishi Corporation subsidiary, Cermaq expects the expanded processing capacity to strengthen its competitiveness and advance sustainable aquaculture growth.