Grieg Seafood has signed an agreement to sell its businesses in Canada and Northern Norway to Cermaq for NOK 10.2 billion on a cash and debt free basis. The deal includes the regions Grieg Seafood British Columbia, Grieg Seafood Newfoundland, Grieg Seafood Finnmark as well as Grieg Seafood’s North American sales organization.

126 employees work for Grieg Seafood British Columbia. Today, the region has 11 seawater farms on the East and West Coasts of Vancouver Island, a land-based freshwater facility in Gold River and offices in Campbell River. The North American sales office is located in Vancouver.

“This transaction will position both Grieg Seafood and the regions for the future,” said Nina Willumsen Grieg, CEO of Grieg Seafood ASA.

Cermaq is well positioned to take the Finnmark, Newfoundland and British Columbia regions further.

“Cermaq shares our values of farming with the lowest possible environmental impact and highest possible fish welfare, as well as of respecting and contributing to the rural and Indigenous communities where the operations take place. We are confident that the regions are in the best hands and that they will continue to create local value long into the future,” says Willumsen Grieg.

“I want to sincerely thank all employees for their dedication to Grieg Seafood over many years. I also want to thank our First Nations partners for teaching and guiding us in how to be good stewards of the ocean,” Willumsen Grieg adds.

The deal is subject to customary closing conditions, including approvals by relevant competition authorities.