Marine Harvest completes acquisition of Canadian salmon farmer
July 6, 2018
By Liza Mayer
Marine Harvest says it has finalized its acquisition of Northern Harvest, a salmon farmer on the East Coast of Canada.
The Norwegian salmon producer received a "No-Action Letter" from the Canadian Competition Bureau on 22 June, which meant the company could proceed with closing the transaction.
Northern Harvest is a fully integrated operation; it has its own broodstock, smolt/hatchery, farming sites and processing operations.
It is expected to harvest 19,000 tonnes of salmon this year. It has currently 45 farming licenses in Newfoundland and New Brunswick and has applied for additional 13 farming licenses.
Marine Harvest, which announced in December its intention to acquire the Canadian company, said at that time: “The potential acquisition supports Marine Harvest's long-term strategy of being a world leading and integrated producer of seafood proteins.”
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