Cooke nets Mowi salmon farms in Canada

Seafood processor Cooke has struck a woody to get Norwegian rival Mowi's salmon farming concern successful eastbound Canada.

Publicly listed Mowi said contiguous (30 June) it had agreed a interest of C$225m ($158.1m) for the assets.

The Oslo-listed shaper said the merchantability volition let it to "focus adjacent much connected halfway farming geographies".

In a abstracted statement, Cooke said the woody encompasses freshwater hatchery facilities, oversea farming sites and 2 processing plants crossed New Brunswick, Prince Edward Island and Newfoundland and Labrador.

Glenn Cooke, the CEO of Cooke, called the woody an "exciting maturation opportunity" for the company's operations successful the Atlantic Canada region.

He added: "We look guardant to welcoming Mowi Canada East's 250 employees to Cooke, and to moving unneurotic to turn the assemblage and sustainably workplace Atlantic salmon for customers successful this portion and beyond.

"Our contiguous objectives volition beryllium to stabilise and reinvest successful the operations done synergies with our existing farming operations crossed Atlantic Canada."

The woody remains taxable to owed diligence and customary closing conditions, including regulatory approvals. It is expected to beryllium completed successful the 2nd fractional of the year.

Mowi added it has lowered its 2026 measurement guidance from 605,000 GWT to 600,000 GWT due to the fact that of the merchantability and expects to grounds a C$140m write-down successful transportation with the deal.

In March, Cooke agreed to acquisition the indebtedness facilities of Avramar Greece. As Cooke already had an existing statement to get the equity of Avramar Greece, the woody meant the institution would get operational power of the Greek business.

Mowi, meanwhile, has made acquisitions implicit the past year.

Last October, the institution raised its involvement successful Norway-based salmon farming and processing adjacent Nova Sea to 95% from 49%. Nova Sea held a number involvement successful Torghatten Aqua, which besides transferred implicit to Mowi.

In March, Mowi agreed to bargain each of Torghatten Aqua's seawater salmon farming concern successful bluish Norway. As portion of this deal, Mowi said it would instrumentality the 33.34% involvement successful Torghatten Aqua gained done the Nova Sea acquisition, allowing Torghatten Aqua to make its land-based operations independently.

According to its 2025 yearly report, Mowi remains the world's largest Atlantic salmon farmer, accounting for one-fifth of the salmon produced successful Norway and Europe, and astir one-third of the UK and North American production.

The salmon processor posted yearly income of €5.73bn ($6.80bn) successful 2025 based connected all-time precocious harvest volumes of 559,000 tonnes, portion fourth-quarter volumes reached 152,000 tonnes.

"Cooke nets Mowi salmon farms successful Canada" was primitively created and published by Just Food, a GlobalData owned brand.