Coast Seafood buys Danish salmon processing company – E24
The Norwegian seafood exporter has bought Danish Vega Salmon, which has processing facilities in Germany.
Coast Seafood has bought Vega Salmon from the Danish private equity fund Maj Invest Equity 4 K/S.
The sale price and terms will not be disclosed, according to the press release.
Danish Vega Salmon has an annual production of around 25,000 tonnes of salmon, and revenues of approximately DKK 1.3 billion a year. It must also be capacity to increase production.
– Vega Salmon is a well-run company that operates according to the industry’s highest quality standards. With Vega as part of the Coast family, we will be very well positioned to increase the export of processed salmon to the global market, says Sverre Søraa, CEO of Coast Seafood in the announcement
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Major exporter
Seafood exporter Coast Seafood exports more than 100,000 tonnes of seafood a year. The company had a turnover of almost DKK 4.8 billion in 2021.
Coast Seafood was started by Sverre Søraa and Martin Øvrebø in the mid-1990s. Both sit in the management and own the company together with their families.
Søraa is managing director, while Øvrebø is director of operations.
The head office is located in Måløy in Nordfjord. The company also has offices and facilities in Bergen, Berlevåg, Kjøllefjord and on the east coast of the USA.
Germany and Denmark
Vega Salmon has locations in southern Denmark and northern Germany. The head office is in Kolding, Denmark, and the company has a process plant in Handewitt, Germany. There are between 400 and 600 employees in the company, depending on the season.
Jakob Graasbøll Enemark, managing director of Vega Salmon, believes that Vega and Coast are a good match.
– We look forward to becoming part of Coast Seafood and are impressed by their professionalism, as well as how much they prioritize quality and sustainability.
According to Coast Seafood, the acquisition is a new step to expand the presence in the entire value chain after they bought the fish processing company Sotra Fiskeindustri in 2021.