Benchmark Genetics becomes part of Novo Holdings’ investment portfolio
Benchmark Genetics (‘Benchmark Genetics’ or ‘the Company’) is pleased to announce that it has officially joined as a portfolio company of Novo Holdings, a world-leading life science investor. This acquisition marks a significant milestone in Benchmark Genetics’ journey toward greater innovation, expansion, and leadership in aquaculture genetics. The Company is now under private ownership and has moved its headquarters to Bergen, Norway.
A vision for growth and development
Under Novo Holdings’ ownership, Benchmark Genetics will grow its position as a global leader, enabling the aquaculture industry to benefit from the huge potential of genetic improvement and technologies.
To achieve this, the Company will focus on:
- Optimising and strengthening its existing salmon and shrimp breeding programmes to further improve the production performance of products
- Expanding strategically into new markets and species, harnessing the company’s leading expertise and technologies to enhance seafood production globally
- Investing in production and nucleus facilities globally, including in Norway, Iceland, and Chile, to enhance biosecurity, increase production capacity, and secure supply
- Build and strengthen strategic partnerships, including with key customers, suppliers, and R&D institutions
- Expanding its provision of genetic and genotyping services to help realise the benefit of genetic improvement on the production of multiple species and markets.
- Science, innovation, and technology translation in areas such as genomics, phenotyping, and reproductive biotechnology, including potential future gene editing solutions.
Novo Holdings has a strong track record in life sciences investments. The Life Science Portfolio spans more than 150 companies. The acquisition of Benchmark Genetics aligns with Novo Holdings’ strategic focus on planetary health and improving sustainable food production. The transaction follows on the heels of Novo Holdings’ investment in Stingray Marine Solutions, another Norwegian company that drives innovation in the aquaculture industry.
“We believe in the power of genetics to transform aquaculture to improve animal welfare and make food production more sustainable,” said Geir Olav Melingen, CEO of Benchmark Genetics. “With Novo Holdings as our new owner, we will realise our mission to provide high-performing sustainable genetic solutions that bring value to aquaculture producers worldwide and more healthy food to the table of consumers.”
Full ownership of Benchmark Genetics Salten
From April 1st, Benchmark Genetics will also gain full ownership of its state-of-the-art land-based breeding facility in Salten, Norway, further strengthening its operational capabilities and ensuring the security of supply all year round. 25% shares of the facility, previously owned by Salten Stamfisk AS, are now under the control of Benchmark Genetics.
Impact on global aquaculture
The global aquaculture industry relies on financially stable genetics companies that invest in innovation and infrastructure. With only a handful of major players in aquaculture genetics, Novo Holdings’ long-term commitment to Benchmark Genetics will contribute to the industry’s ability to address future challenges in seafood production.
Acquisition Details
- Transaction Value: Novo Holdings has agreed to acquire Benchmark Genetics from Benchmark Holdings plc for an enterprise value of up to £260 million. The deal includes an initial payment of £230 million and potential additional payments of up to £30 million based on revenue milestones.
- Completion Timeline: The acquisition was completed on March 31st, 2025.
- Financial Strength: With Novo Holdings’ backing, Benchmark Genetics will continue to invest in innovation in aquaculture breeding globally to ensure the long-term sustainability of the aquaculture sector.
About Benchmark Genetics:
Benchmark Genetics is a world-leading provider of genetics solutions for aquaculture. With operations in salmon and shrimp, the Company focuses on breeding programmes that enhance genetic performance, sustainability, supply security, and biosecurity. Benchmark Genetics operates in major aquaculture markets across Europe, the Americas, and Asia, serving customers in over 50 countries. The company also offers genetic services and genotyping services for a wide range of aquaculture species globally. Read more at: www.bmkgenetics.com
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure, and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.
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