SCOTTISH Sea Farms’ £164 million purchase of Grieg Seafood Hjaltland UK is set to be completed after it was approved by the UK’s Competition and Markets Authority (CMA).
It is anticipated that the deal will be concluded as early as the year-end.
In June Scottish Sea Farms signed an agreement to acquire 100 per cent of the shares in Grieg Seafood Hjaltland UK from Grieg Seafood ASA.
Included in the deal are the company’s freshwater hatchery, processing facility and 21 marine farms around the Shetland Islands and Isle of Skye which, combined, produced approximately 16,000 tonnes of Atlantic salmon in 2020.
For many years, Scottish Sea Farms has been the other main player in the local salmon farming industry, and this move now means that the vast majority of salmon growing sites in Shetland are owned by one company.
Commenting on the CMA announcement, Scottish Sea Farms managing director Jim Gallagher said: “This is hugely positive news that promises farmers from both companies greater opportunity than ever before to create the best growing conditions, working collectively as one team with regards to the key factors of fish health, stocking regimes and sea lice management.
“This, in turn, will enable us to offer customers a more secure and stable supply of premium quality Scottish farmed salmon.”
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 530 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.Support Shetland News