Frøya, Norway-headquartered SalMar has agreed to acquire the remaining 49 percent of the shares in fellow Norwegian salmon farming company Oylaks.
SalMar announced in an update to the Oslo Børs that the acquisition will give it 100 percent of the company. Oylaks currently operates one license to produce Atlantic salmon.
The agreed-upon purchase price is the issuance of 209,402 new shares in SalMar at a subscription price of NOK 655.20 (USD 64.80, EUR 55.81) per share, making the deal worth roughly NOK 137.2 million (USD 13.5 million, EUR 11.7 million).
According to annual accounts Oylaks submitted to the Norwegian Registry of Business Enterprises, the company posted NOK 76.1 million (USD 7.5 million, EUR 6.4 million) in sales revenue in 2024, up from the NOK 68.4 million (USD 6.7 million, EUR 5.8 million) it posted in 2023. Its operating costs stood at NOK 51 million (USD 5 million, EUR 4.3 million), giving the company an operating result of NOK 24 million (USD 2.3 million, EUR 2 million).
Prior to the full acquisition by SalMar, the remaining ownership of Oylaks was split between two companies, Rmisund Holding and Imis Holding, which each had 24.5 percent of the company.
SalMar upped its stake in Oylaks in 2024, increasing its share of the company by 2 percent to bring its total stake to 51 percent. That increased stake came at the same time as it acquired the remaining 45 percent of Refsnes Laks – another salmon company operated in central Norway.
The latest move builds on other acquisitions SalMar has made in the last few years, including a NOK 170 million (USD EUR) acquisition of salmon-farming company Wilsgård in April 2025. That acquisition followed up on SalMar’s acquisition of NTS in 2022, which occurred just after NTS had acquired Norway Royal Salmon in 2022. Norway Royal Salmon had also recently gone through a merger with SalmoNor, meaning SalMar’s acquisition of NTS ended up rolling up NTS, Norway Royal Salmon, and SalmoNor.
Wilsgård was also a part of that acquisition, and SalMar held a 37.5 percent ownership interest in the company following its purchase of NTS.
SalMar also acquired a controlling stake of Knutshaugfisk in 2024, and snagged the remaining 15 percent of SalMar Aker Ocean in 2025.
The many acquisitions have lead SalMar to be one of the largest salmon farming companies in the world in terms of volume. Its total harvests in 2025 reached 284,500 metric tons (MT) across its Central Norway, Farming Northern Norway, Icelandic Salmon, and SalMar Aker Ocean divisions.
