Mowi ASA, the world’s leading producer of fish farmed Atlantic salmon, has announced the commencement of strategic review of its Integrated Feed Division, potentially including the sale of this segment.
Until now, this division has been crucial in supporting Mowi’s aquaculture operations throughout Europe. The company has stated that it will evaluate all available options to optimise its operations in light of its growth and expansion into various countries and farming regions.
In 2024, the Feed division reported operational revenues of €1.122 billion and an operational EBITDA of €62 million. The review will consider all possible options, not ruling out the sale of assets which include feed mills in Norway and Scotland with production capacities of 460,000 tonnes and 240,000 tonnes respectively, totaling a combined capacity of 700,000 tonnes. These facilities provided nearly all the feed required for Mowi’s salmon farming operations in Europe over the last year. The division employs 140 full-time staff.
Ivan Vindheim, CEO of Mowi, commented, “In just a few years, Mowi has expanded from 400,000 tonnes producer to nearly 600,000 tonnes, with production in seven countries and eleven farming business in 26 countries. Consequently, we believe the time is right to assess how our Feed division will be structured going forward.”
To assist with the review, Mowi has engaged Artic Securities. While the company will now be being a structured process, there is no certainty that this will result in any transaction, nor the terms thereof.
Mowi will provide further updates as appropriate but does not intend to comment further on the process unless and until a definitive agreement is reached or the process is terminated.
Mowi is a globally integrated seafood company, delivering salmon and other high-quality seafood products worldwide, partly under its own Mowi brand. The company is ranked as the most sustainable listed animal protein producer in the world by Coller FAIRR.
Based in Bergen, Norway, Mowi employs 11,800 people in 26 countries and is listed on the Oslo Stock Exchange. The company reported a turnover of €5.6 billion in 2024.
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