The two family owned companies Måsøval and Pure Norwegian Seafood (PNS) are further strengthening their close collaboration. Måsøval is purchasing 100% of PNS's aquaculture business (Pure Farming) as well as acquiring 65% of the shares in PNS.
The intention behind the purchase is to strengthening the two companies' existing investment in the production and sale of high quality salmon. The owners of both companies see significant opportunities and agree that integrated operations can greatly benefit end costumers.
"In recent years, Måsøval has supplied PNS with Label Rouge-quality salmon. This cooperation has been exciting and important to us, and has contributed to our desire to further develop our collaboration. This has led to both parties entering into a purchase agreement," says Måsøval's managing director Asle Rønning.
"This will provide synergies on both sides, and we envisage that this will further develop PNS and provide the companies with increased activity in the years ahead. PNS has expertise, long experience, good harvesting facilities and a dedicated sales department. As such, we complement Måsøval very well, says Pure Norwegian Seafood's general manager Eldar Arne Henden.
In addition to signing a share purchase agreement, the parties have also formalized an updated agreement that regulates the industrial collaboration between Måsøval and PNS. The agreement means that PNS will continue to exist as a separate company and creates predictability for jobs and marketing activities for many years ahead.
"Måsøval will now have control of harvesting, distribution and sales and will thereby become a holistic player with clear ambitions in a high-end market. Such an investment has arisen as a natural step in the further development of Måsøval," says Rønning.
Pure Norwegian Seafood is a leading player in the harvesting, sale and distribution of high quality salmon to customers all over the world. The company has long been a Label-Rouge certified supplier to the French market and has also been a regular supplier to some of the most demanding customers globally.
Read more about Label Rouge certification here.
In addition to its downstream operations, PNS has had its own fish farming operations through the company Pure Farming. Pure Norwegian Seafood has been owned by the fourth generation of the Henden family, the current owners will continue to own a 35% stake when the transaction is complete.