ODE ACQUIRING COD PROCESSING PLANT NEAR ÅLESUND

Ode acquiring cod processing plant near Ålesund.  Norway’s leading cod farmer Ode has acquired Western Seaproducts AS from Måsøval Group. It will become a fully owned subsidiary in the Ode Group and will be a specialised cod facility for harvesting and processing.

It’s a great day for the employees and the activity in the local communities around Vartdal. Ode, Norway’s largest cod farmer, is now the owner of the Vartdal processing plant, situated just a short distance from Ålesund, where Ode has its headquarters. The plant was previously owned by Måsøval. The plan is to develop it into a larger, specialised and modern facility for harvesting and processing of cod with solid and stable capacity during 2024.

CEO Ola Kvalheim

“At Ode, we have a clear strategy of being fully integrated to control quality, traceability and efficiency across the entire value chain. By acquiring the processing plant in Vartdal, we are now involved all the way from the egg to the customer, a process that takes 3 years, caring for our fish to end up with the best products for our consumers,” says CEO and founder Ola Kvalheim.

This important acquisition is the final step in Ode building a fully integrated value chain for cod farming, including hatchery, juvenile grow-out, farming, slaughtering, processing, sales, and marketing. Ode has made significant investments in production capacity and is developing an organisation that currently employs almost 150 people.

Going forward Ode will be focusing on expanding production step-by-step across our value chain to ensure we can continue to grow with our existing customers and take on new customers.

“Today marks an important milestone and step for our company with our internal harvesting and processing. In addition, we are proud to add more activity and employment in Vartdal and local communities nearby. Most of the workforce comes from the local area, which highlights its local importance,” says Kvalheim.

Ode delivered just under 4 million kilos of fresh cod in 2023 and plans to triple the volumes to 12 million kilos this year. The market is fully absorbing the growth due to strong reception of the product in the market. There is strong and growing demand among consumers both in Europe and around the world for fresh cod products. They value the stable and high quality, delivered every day of the year with great predictability and safety of supply.

“Leading restaurants and retail chains believe in the farmed cod because consumers love the products, and the growing focus on healthy proteins produced with a low footprint. Aquaculture is becoming increasingly important, and our customers want their fair share of this megatrend. The increase in farmed cod is also crucial both for Norway’s seafood activity and for customers, given the collapse in the population of wild cod in Norway and Russia,” says Kvalheim.

Looking forward, Ode is ready for further growth and more investments, including expansions and upgrades to enhance its processing capabilities and offer more unique cod products.

“Ode already has everyday supply with a mix of certified whole cod and value-added cod products to a range of customers both in retail and Horeca mainly across the European market. Our focus going forward will be to develop markets and both packed consumer products and for the store counter and Horeca together with our existing and new customers. With more processing locally and pre-rigor quality we can offer high quality products that are unique and can open new channels and opportunities” says Kvalheim.