Norway-based halibut-farming company Nordic Halibut has secured another NOK 500 million (USD 54 million, EUR 46 million) under its overdraft facility and acquired two other companies in the wake of a solid first-quarter performance.
The company announced that SpareBank 1 Sør-Norge and Eksfin granted an increase in available liquidity to NOK 500 million, which Nordic Halibut said will support expansion in biomass production. The company said it is aiming to produce 10,350 metric tons (MT) of halibut annually by 2031.
At the same time as announcing the additional overdraft facility, Nordic Halibut also announced it entered two share purchase agreements with Heimstø to acquire 100 percent of both Thule Marine and Gulbygget.
Thule Marine owns Tjeldbergodden Rensefisk, which Nordic Halibut said it has a “commercial relationship” with. Gulbygget, meanwhile, owns the property and operational facilities that are leased to Tjeldbergodden Rensefisk. Those facilities have been used by Nordic Halibut since 2024, and forms part of its overall operations, it said.
“The acquisitions will provide the company with full control over both operations and related infrastructure, which represents an important strategic step for the company enabling greater operational control and supporting further development,” Nordic Halibut said.
Nordic Halibut said the Tjeldbergodden Rensefisk facility has been delivering strong biological results since 2024, and the acquisition gives it full control over the operations.
“Since the acquisition of Thule Marine AS and the acquisition of Gulbygget AS are closely interrelated, the acquisitions are structured as interdependent transactions that will be completed simultaneously,” Nordic Halibut said.
The two acquisitions came in the wake of a strong Q1 2026 performance, which saw an 18 percent increase in harvests year-over-year. Nordic Halibut harvested 269 MT of head-on gutted halibut, with an average harvest weight of 6.6 kilograms, which was also an increase of 18 percent.
Revenue for the period reached NOK 47.7 million (USD 5.15 million, EUR 4.42 million) in Q1 2026, an 8 percent increase year-over-year, while its EBITDA was a loss of NOK 6 million (USD 648,000, EUR 555,000).
The company said construction of its Torjulvågen facility continues to be on track to being fully operational in 2027.
