Whole Oceans’ parent company offers to buy Kuterra
June 7, 2019
By Liza Mayer
Emergent Holdings, the parent company of Whole Oceans, has offered to buy a majority stake in Kuterra, the British Columbia-based pioneer of growing Atlantic salmon on land.
The Namgis First Nation, owner of Kuterra, is expected to make a decision on the offer by July.
The deal will help Emergent Holdings capture at least 10 percent of the North American market for Atlantic salmon by developing vertically integrated facilities close to consumers, the company said.
Its other aquaculture asset, Whole Oceans, is building a land-based Atlantic salmon farm in Bucksport, Maine.
“Kuterra’s expertise in growing fish will support Whole Oceans’ operations on the East Coast. And when Kuterra’s expertise is combined with Emergent’s new production systems, we’ll have a strong base of operations from which we can build our West Coast capacity,” said Jacob Bartlett of Emergent Holdings.