Denmark-based Novo Holdings is planning to acquire Norwegian fish genetics company Benchmark Genetics from Benchmark Holdings in a deal with an enterprise value of up to GBP 260 million (USD 326 million, EUR 311 million).
Novo Holdings announced the agreement on 25 November and said the purchase aligns with its Novo Holdings Planetary Health Investment team’s strategic focus on aquaculture. Novo Holdings had assets of EUR 149 billion (USD 156 billion) as of the end of 2023, is wholly owned by the Novo Nordisk Foundation, and is the controlling shareholder of both Novo Nordisk and Novonesis.
Novo Holdings only recently began investing in aquaculture after it became a new strategic priority for its Planetary Health Investments team. The company kicked off the aquaculture investment strategy with its purchase of Stingray Marine Solutions – the developer behind a robotic laser system that zaps sea lice off salmon – in October.
"We are very pleased to announce plans to acquire the Benchmark Genetics business from Benchmark Holdings. Both animal and plant genetics hold immense potential to transform the global food industry, enabling more efficient and sustainable ways to feed a growing population,” Novo Holdings Planetary Health Investments Partner Aleks Engel said. “In particular, advancements in aquaculture genetics, such as those in the salmon industry, present significant opportunities to improve productivity, resilience, and environmental outcomes."
According to Novo Holdings, the transaction consists of ...
