July 2, 2021

Grieg Seafood has sold its Shetland operations for £164 million (€191 million) as it looks to concentrate on its facilities in Norway and Canada.

The sale sees 21 salmon farms in the Shetland and Skye areas of northern Scotland, along with a processing plant and other facilities, transferred to Scottish Sea Farms.

Just over 200 Grieg Seafood staff will move over to Scottish Sea Farms as part of the deal, which Grieg Seafood’s CEO, Andreas Kvame, said in a statement was part of the company’s “communicated strategy”, a reference to the announcement last autumn of plans to sell the Shetland business.

“The disposal represents an important milestone in Grieg Seafood’s strategy to concentrate future farming activities in Norway and Canada, where we see the largest potential for profitable growth,” he said.

“Following a three-year long period of restructuring and operational improvement, Shetland is now showing good performance with sea lice levels at an all-time low, increasing survival and a high superior share. I am pleased to say that we hand over operations in good shape.”

Reports from last year indicated that high levels of sea lice, a major animal welfare concern in salmon farming, were contributing to losses at Grieg Seafood’s Shetland operations. More recent reports have said that sea lice levels are down 85% on last year.

The deal sees all shares of Grieg Seafood Hjaltland UK Ltd, the parent company to Grieg Seafood’s Shetland business, transferred to Scottish Sea Farms.

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