Morpol ASA on Thursday announced that it agreed to buy a 100 percent stake in Jøkelfjord Laks AS, a Norwegian farmed salmon company valued at NOK 490 million.
This is the Poland-based salmon processor’s first acquisition in Norway. It called Jøkelfjord Laks “one of the best-performing salmon farmers in Norway,” with an projected EBIT of NOK 100 million in 2010.
Last year, Jøkelfjord Laks produced 6,700 metric tons of salmon at 10 farm sites, all in the Kvænangen municipality. The company expects its 2011 production to reach 7,000 metric tons. Jøkelfjord Laks, which employs about 40 workers, operates its own smolt facility, with an annual capacity of 1.6 million smolt, as well as its own processing and packing facility.
The deal is due to close in the first half of February.
“We are very pleased to enter into salmon farming in Norway and get on board one of the best-performing salmon farmers in the country,” said Morpol CEO Jerzy Malek. “With this transaction we continue to build on our strategy to secure parts of our raw material need to further develop Morpol as a leading supplier of high quality salmon products.”
“We are very happy that the new owner wants to continue in line with today's operations,” added Arne Evensen, managing director and chairman of Jøkelfjord Laks. “We believe Morpol is an excellent buyer for Jøkelfjord and will continue to develop the company as an important player in the local community.”
Morpol was one of the most active European seafood companies on the mergers-and-acquisitions front last year, acquiring Mainstrem Scotland, Westray Scotland Ltd., Rysa Salmon and Brookside Products Ltd.
