Scottish Salmon Company changes name to Bakkafrost Scotland
The Scottish Salmon Company announced on 21 June it is renaming its operations to Bakkafrost Scotland.
Faroe Islands-headquartered salmon producer Bakkafrost purchased a majority stake in the Scottish Salmon Company in 2019, paying NOK 3.76 billion (USD 411.1 million, EUR 374 million at time of sale). According to a release from the company, since that time it has been working to “align the businesses” in Scotland, and the renaming will ensure Bakkafrost operates as “one company.”
“When we acquired The Scottish Salmon Company, we saw the exceptional value of Scottish provenance and an opportunity to create the leading and most sustainable salmon producer in Scotland,” Bakkafrost CEO Regin Jacobsen said. “The next step in realizing this potential is the renaming of our Scottish operations to Bakkafrost Scotland. This represents an important milestone in our 'one company' strategic focus, as we continue to build on our strengths and best practices across the group to fully benefit from the collective knowledge and competencies from our passionate and talented employees.”
Jacobsen said the renaming is also a signal that Bakkafrost is fully committed to Scotland and that the operations in the country are a key part of the company’s future plans.
Those future plans feature a five-year investment and sustainability plan that will consist of GBP 711 million (USD 871 million, EUR 824 million) aimed at increasing the company’s salmon production by more than 40 percent. According to Bakkafrost, a “substantial portion” of that investment will be made in Scotland.
“The investment will create jobs, drive forward rural economies, develop business performance and improve day-to-day operations for Bakkafrost Scotland’s current 600 staff located across the west coast of Scotland and the Hebridean Islands,” the company said. “The substantial investment in Scotland will also drive forward the wider salmon farming sector.”
Bakkafrost also said it plans for recirculating aquaculture systems (RAS) to be a part of the company’s development, with the creation of new facilities in Scotland. The then-Scottish Salmon Company signed a contract with Nofitech, a RAS technology company, in 2021 as part of a plan to transform its salmon-farming approach. Its four-year post-smolt innovation project, located in Applecross, Scotland, has also received public sector funding and will produce 500-gram smolts, according to the company.
Bakkafrost Scotland t it plans to expand its use of RAS, and that a second RAS facility is in the works.
“RAS technology will eventually be used across all freshwater production, transforming Bakkafrost Scotland’s operations,” Bakkafrost Scotland said. “Further details on the second facility will be announced over the coming months.”
Photo courtesy of Bakkafrost