Mowi’s acquisition of Nova Sea approved

Core Insights - Mowi has received final approval for its acquisition of a controlling stake in Nova Sea AS, increasing its ownership from 49% to 95% [1] - The acquisition is expected to enhance Mowi's production capacity, with a projected harvest of 597,000 tonnes in 2025, marking a significant increase from 400,000 tonnes in previous years [2] - Mowi's CEO emphasizes the strategic importance of the acquisition for sustainable growth in Northern Norway, aiming to create more jobs and stimulate coastal activities [3] Production and Growth - Mowi anticipates harvesting 597,000 tonnes in 2025, with 372,000 tonnes sourced from Norway, including 161,000 tonnes from Northern Norway, a prime region for Atlantic salmon farming [2] - The company has achieved an annual growth rate of 6.9% in production, significantly outpacing the industry average of 3.6% during the same period [2] Strategic Fit and Synergies - The acquisition is expected to yield significant synergies, preliminarily estimated at NOK 400 million (EUR 34 million) annually, through improved resource utilization and an enhanced license portfolio [4] - Mowi's CEO believes that the operational fit between Mowi and Nova Sea will lead to better biological results and biosecurity in the region [5] Company Overview - Mowi is one of the world's leading seafood companies and the largest producer of farm-raised Atlantic salmon, with an estimated harvest of 597,000 tonnes in 2025 from multiple countries [6] - The company reported a turnover of EUR 5.6 billion in 2024 and employs 11,800 people across 26 countries [7]