Bergen, Norway-based Mowi, the world’s largest producer of farm-raised Atlantic salmon, has announced a strategic review, assisted by Arctic Securities, of its integrated Feed division.
"In just a few years, Mowi has grown from a 400,000-ton farmer to approaching a 600,000-ton farmer with production in seven countries and 11 farming regions with all the complexity that entails," Mowi CEO Ivan Vindheim said. "Mowi also has an extensive downstream business in 26 countries. In order to streamline our operations, we, therefore, feel the time is ripe to assess how our Feed division will be organized in the future.”
The review will assess all available options, according to the firm, including a potential sale of the division.
"Mowi will provide further updates as appropriate but does not intend to comment further on the process unless and until a definitive agreement is reached or the process is terminated," the company said.
When he delivered Mowi’s Q3 2024 results in November 2024, Vindheim said that the Feed division had had its best quarter ever, with all-time high earnings and volumes of EUR 25.2 million (USD 26.7 million) and 191,279 metric tons, respectively. The division’s revenues climbed year over year in Q3 from EUR 344 million (USD 364 million) to EUR 363.3 million (USD 384.5 million).
Delivering the company’s Q4 2024 results in February 2025, Vindheim said the company had, again, posted record results in both its fourth-quarter and full-year reports for 2024. At the time, Vindheim said that thanks to its acquisition of Nova Sea, Mowi would need additional feed capacity and would be expanding its plant in Bjugn, Norway.
