Norway Pelagic ASA announced yesterday that it has agreed to acquire pelagic fish processor Fryseriet AS in Norway's Nordland region and its sales arm, Ytterstad Export AS, from Ytterstad Fiskeriselskap AS.
Fryseriet's facility was recently modernized, produces 60,000 metric tons of fish annually and was expected to yield NOK 265 million (USD 37.2 million) in sales in 2008.
The acquisition will give Norway Pelagic an annual capacity of 170,000 metric tons, which represents about 35 percent of pelagic fish production in northern Norway.
The deal is expected to be completed by the end of March.
Alesund, Norway-based Norway Pelagic is one of the world's largest pelagic fish processors. The group was formed through the merger of Koralfisk AS, Bergen Fiskeindustri AS, Domstein Pelagic AS, Global Fish AS and Bernt Hansen eft AS.
