Vega Salmon has been acquired by Coast Seafood, a Måløy, Norway-based seafood company.
The Kolding, Denmark-based salmon-processing firm was sold by Danish private equity fund Maj Invest Equity. According to a release from the company, it has between 400 and 600 employees depending on the season and has an annual revenue of DKK 1.3 billion (USD 189 million, EUR 174 million). Terms of the sale were not disclosed.
With an average annual production of 25,000 metric tons (MT) of processed salmon annually, and with capacity to increase that total, Vega Salmon produces a number of different products between its facilities, including fresh and frozen salmon, cold-smoked salmon, hot-smoked salmon, marinated salmon, value-added products, and salmon off-cuts.
“Vega Salmon is a well-managed company operating according to the highest quality standards,” Coast Seafood CEO Sverre Søraa said. “With Vega as part of the Coast family, we will be very well-positioned to increase sales of processed salmon to the global market.”
Coast Seafood, meanwhile, has an annual production of more than 100,000 MT of seafood. The company trades in salmon, mackerel, cod, haddock, pollock, trout, and herring products.
“We look forward to becoming a part of Coast Seafood and have been impressed by their attention to quality and sustainable operations, as well as their professionalism,” Vega Salmon CEO Jakob Graasbøll Enemark said. “Vega and Coast is a good match both with respect to values and culture.”
Photo courtesy of Vega Salmon/Facebook
