GR Direct - Sony - Save up to £300 on selected Bravia OLED & LED TVs
Monday 27 May 2024
 11.9°C   S Gentle Breeze
Ocean Kinetics - The Engineering Experts

Business / Scottish Sea Farms to become isles’ largest salmon farmer in £164m deal

Scottish Sea Farms operation at Slocka in Ronas Voe. Photos: Scottish Sea Farms

MORE than 200 local Grieg Seafood employees are set to transfer to Scottish Sea Farms as the Norwegian owned aquaculture business becomes Shetland’s largest salmon producer.

Both companies confirmed late on Tuesday that the sale of the UK operation of Grieg Seafood ASA had been agreed for a purchase price of £164 million.

The transaction means that there are just two salmon farming companies left in Shetland, Scottish Sea Farms and Canadian-owned Cooke Aquaculture.

Grieg Seafood announced in the autumn of last year that it wanted to sell its operations in Shetland and Skye to focus on their farming activity in Norway and Canada.

The sale includes 21 marine farms, a freshwater hatchery at Girlsta and a processing facility at Lerwick, harvesting approximately 16,000 tonnes of salmon in 2020.

Scottish Sea Farms said the acquisition complements its own operations located across mainland Scotland, Shetland and Orkney, which produces approximately 24,000 tonnes of salmon.

Scottish Sea Farms chief executive Jim Gallagher: ‘Landmark step’.

Chief executive Jim Gallagher described the transaction as a “landmark step” in the company’s long-term strategy, “giving us greater influence over several key biological factors including fish health, stocking regimes and sea lice management”.

He added: “We’re very much looking forward to pairing the skill and know-how of our existing farming and fish health teams with the local expertise within Grieg Seafood Hjaltland UK, working as one to benefit fish welfare and boost survival.

“This, in turn, will ensure a more secure and stable supply of salmon for our discerning customers the world over, helping satisfy the insatiable demand for this highly nutritious, low carbon food.”

Meanwhile, Grieg Seafood said it was confident the Shetland operations would be in good hands and continue to create value for local communities for years to come.

Become a supporter of Shetland News


Grieg Seafood ASA chief executive Andreas Kvame 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.

“I am pleased that another innovative and responsible salmon producer like Scottish Sea Farms will take over the operations.”

Managing director of Grieg Seafood Shetland Grant Cumming said: “I want to thank all employees for their impressive efforts, hard work and dedication over the last years, and especially during the pandemic.

“I am delighted that the future of Grieg Seafood’s salmon production is in the safe hands of Scottish Sea Farms and I look forward to salmon farming continuing to play a major role in the future of Shetland and Skye’s economy.”

The transaction is expected to be concluded before the end of the year, and it still needs clearance from the relevant competition authorities. Business will go on as usual.

Become a supporter of Shetland News

Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.

Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.

Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has  over 600 supporters  who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.

Your contribution will ensure Shetland News can: -

  • Bring you the headlines as they happen;
  • Stay editorially independent;
  • Give a voice to the community;
  • Grow site traffic further;
  • Research and publish more in-depth news, including more Shetland Lives features.

If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.



Subscribe to a selection of different newsletters from Shetland News, varying from breaking news delivered on the minute, to a weekly round-up of the opinion posts. All delivered straight to your inbox.

Daily Briefing Newsletter Weekly Highlights Newsletter Opinion Newsletter Life in Shetland Newsletter

JavaScript Required

We're sorry, but Shetland News isn't fully functional without JavaScript enabled.
Head over to the help page for instructions on how to enable JavaScript on your browser.

Your Privacy

We use cookies on our site to improve your experience.
By using our service, you agree to our Privacy Policy and Cookie Policy.

Browser is out-of-date

Shetland News isn't fully functional with this version of .
Head over to the help page for instructions on updating your browser for more security, improved speed and the best overall experience on this site.

Interested in Notifications?

Get notifications from Shetland News for important and breaking news.
You can unsubscribe at any time.

Become a supporter of Shetland News

We're committed to ensuring everyone has equitable access to impartial, open and quality local journalism that benefits all residents.

By supporting Shetland News, you play a vital role in ensuring we remain a pivotal resource in supporting the community.

Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.