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 Newfoundland, Grieg Seafood British Columbia, Grieg Seafood Finnmark as well as Grieg Seafood’s North American sales organization.

110 employees work for Grieg Seafood Newfoundland. Today, the region has 14 seawater licenses in Placentia Bay, as well as a land-based freshwater facility and offices in Marystown.

“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 placed to take the Newfoundland region 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 region is in the best hands and that it will continue to create local value long into the future,” said Willumsen Grieg.

“I want to sincerely thank all employees for their dedication to the company over several years,” said Nina Willumsen Grieg.

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