COAST SEAFOOD ACQUIRES VEGA SALMON

Coast Seafood acquires Vega Salmon. Coast Seafood, the global seafood export group, has acquired Vega Salmon, a leading salmon processing company from the Danish Private Equity fund Maj Invest Equity 4 K/S.

Vega Salmon has between 400 and 600 employees depending on the season, annual revenues of DKK 1.3 billion, headquarters in Kolding, Denmark, and a processing facility in Handewitt, Germany.

“Vega Salmon is a well-managed company operating according to the highest quality standards. With Vega as part of the Coast family, we will be very well positioned to increase sales of processed salmon to the global market”, says Sverre Søraa, CEO of Coast Seafood.

In 2021, Coast Seafood acquired the Norwegian fish processing company Sotra Fiskeindustri. The acquisition of Vega Salmon is another step towards expanding Coast’s presence in the entire seafood value chain.

“For Maj Invest it has been important to find a new owner of Vega Salmon that has the necessary industrial expertise and global reach to secure further growth. We are confident that Coast Seafood will be an excellent owner of Vega Salmon”, says Søren Holm Tøth, Director Maj Invest Equity A/S.

Vega Salmon has a production of around 25,000 metric tons of salmon per year and has capacity to increase production. Products include fresh and frozen salmon, cold smoked, hot smoked, marinated salmon as well as value-added products and salmon off-cuts.

“We look forward to becoming a part of Coast Seafood and have been impressed by their attention to quality and sustainable operations, as well as their professionalism. Vega and Coast is a good match both with respect to values and culture”, says Jakob Graasbøll Enemark, CEO Vega Salmon.

Closing terms for the sale are not disclosed.

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