Wed, 30 Jun 2021 | DIVISION SALE
Salmon company Grieg Seafood has confirmed it has sold its Shetland assets to Scottish Sea Farms, one of only three companies operating on the isles, in a deal worth £164 million.
The deal reportedly includes the sale of 21 active farm sites across Shetland and Skye, as well as a new land-based feeding central, a freshwater facility and a processing plant.
Grieg Seafood initially revealed that it was planning to sell its Shetland assets, as part of a rigorous process of restructuring and improvements that has taken place over the last few years.
In 2020, commenting on its ongoing growth strategy, Grieg released a statement confirming that it would have to look to "prioritise resources and investments and make some tough decisions" as a result of the Covid-19 pandemic, signalling that it would begin the process of finding a buyer for its Shetland assets.
Commenting on the sale, Andreas Kvame, chief executive of Grieg Seafood ASA stated that the firm is pleased that another innovative and environmentally responsible producer will be taking over the operations of its Shetland-based assets.
"I want to sincerely thank all employees of Grieg Seafood Shetland for their efforts for the company, especially during the difficult times of the pandemic," he said. "Grieg Seafood Shetland has worked diligently on improvements across the board over the last years, which are now bearing fruits with higher survival, lower sea lice levels and more sustainable operations. I am pleased that we are handing over operations in good shape."
"Going forward, Grieg Seafood will narrow our focus, resources and investments to Norway and Canada to strengthen our presence in these production regions. As such, is it only right to let others, who have Shetland high on their agenda, develop the Shetland operations further."
A well established premium eyewear designer and manufacturer operating throughout the UK and overseas.
A turnkey freehold hotel, restaurant and wine bar business opportunity located in Jedburgh; a pretty town in the Scottish Borders with a high concentration of attractions within small parameters
LEASEHOLD
Represent a West Midland based specialist printing services company seeking an industry savvy acquirer, or an interested newcomer.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Surrey fit-out firm files administration notice | ADMINISTRATION
A major fit-out firm based in Surrey has filed a notice of i...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.