Marine Harvest completes takeover of Northern Harvest
Marine Harvest, the world’s largest salmon farming company, has finalized its acquisition of St. George, New Brunswick, Canada-based Northern Harvest.
The Bergen, Norway-based firm announced its intention to purchase Northern Harvest, a Canadian farmed salmon supplier, for CAD 315 million (USD 251 million, EUR 209 million) in January 2018.
Northern Harvest operates its own broodstock, hatchery, farming sites, and processing operations throughout Eastern Canada. The salmon farmer has 45 existing farming licenses in Newfoundland and New Brunswick, and has applied for an additional 13 licenses.
Marine Harvest received a "no-action letter" from Canada's Competition Bureau on 22 June, permitting the company to proceed with closing the transaction.