Grieg Seafood Hjaltland, a Shetland salmon-farming and -processing company, announced today it acquired the farm assets, including barges, boats, cages and an Organic Food Federation-certified salmon farm, and seven farm licences from No Catch Ltd. for £3.6 million ($7.1 million).
With the addition of the organic salmon farm, Grieg will become one of the world's largest organic salmon producers.
"The additional farm sites and harvest volume of organic salmon in 2008 will strengthen Hjaltland's market position as the leading producer of high quality sustainable and organic salmon from Shetland," said Michael Stark, Grieg's managing director, in a press release.
The company will offer organic salmon under its WildWater - Farmed in the Wild brand.
While the acquisitions will increase the company's production capacity, it will not increase the harvest guidance for 2008, which remains at about 16,000 metric tons. Greig forecasts a 4,000 metric ton increase by 2010.
Grieg Seafood Hjaltland Group currently produces more than one-third and processes more than 50 percent of Shetland's total salmon production.
