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Bakkafrost to acquire Atlantic Salmon importer North Landing

FBR Staff Writer Published 15 May 2018

Salmon producer Bakkafrost has agreed to acquire North Landing, an importer and distributor of Atlantic Salmon on the US East Coast.

Based in Faroe Islands, Bakkafrost is looking to establish a base of operation in the US through the acquisition, which is expected to be completed by the month end.

North Landing, which has been in business for more than 25 years on the US East Coast, also imports Atlantic Salmon from specially selected farms located across Europe and Canada.

The seafood company offers whole salmon and a range of fillets and portions to its customers, procured from the North Sea and the Atlantic Oceans.

Bakkafrost said that the acquisition of North Landing will help it give an improved market access and also enable it to offer the customers in one of the largest salmon markets with a broader range of services.

North Landing, which has handling and processing facilities in Clifton, New Jersey, is said to be the first US seafood company to import fresh salmon from the Faroe Islands. The US firm has also been Bakkafrost’s customer for more than a decade, and has a workforce of 36 people.

Bakkafrost said that in the near future, North Landing will be structured as its independent subsidiary. All the existing business and commercial relations between the two companies will remain intact even after the acquisition is completed.

North Landing will also continue to provide the same seafood products and services post-acquisition, said Bakkafrost.

Founded in 1968, Bakkafrost produces a wide variety of salmon products from its own facilities in Faroe Islands. In 2010, the company merged with Vestlax, in a move to become the largest farming company in the Faroe Islands with a share of about 55% of the farmed salmon from the archipelago.

Another major acquisition made by Bakkafrost is that of Havsbrún - a producer of fishmeal, fish oil and fish feed, which was completed in 2012.

Image: Faroe Islands-based Bakkafrost snaps up a US-based salmon importer. Photo: courtesy of Bakkafrost.