Changes in Nergård’s ownership

Published by FiskerForum, 29-04-2017 · info@fiskerforum.dk

Norwegian fishing company Nergård, which has an integrated catching, processing and sales organisation, has seen its ownership change as both Norsk Sjømat and Samherji have increased their holdings in the company.

Norsk Sjømat’s stake in Nergård has increased to 60.10% from 42% and the remaining 39.90% is held by Samherji, building on its original 22% stake in Nergård, a key employer in northern Norway with more than 90% of its 470 staff resident in the north. Norsk Sjømat has held a stake in Nergård since 2010 and Samherji acquired its initial holding in 2014.

‘We want Nergård to develop from being a supplier of raw materials and semi-finished products to becoming a manufacturer of finished products,’ said Norsk Sjømat CEO Per Magne Grøndahl. ‘A lot of this value added processing will take place in northern Norway. Our position is that processing and manufacturing as close to the source of raw materials as possible is key to delivering the world's best products.’

‘Salmon companies used to be the only ones who could offer stable fish deliveries throughout the year. We see a lot of opportunities in how Nergård has set up their infrastructure to now be able to deliver fresh cod 365 days a year. Soon Nergård will, for example, be able to offer cod with sashimi quality. That will literally open a whole new world for cod products.’

Samherji’s experience in delivering year-round fresh products to European markets will undoubtedly be a vital ingredient in Nergård’s development. With factories in Akureyri and Dalvík in northern Iceland, they rely heavily on raw material from the company’s own fleet to process around 30,000 tonnes of fish annually, focusing strongly on full utilisation of raw material.

‘Nergard is a leading company in northern Norway and we look forward to co-operating with Norsk Sjømat to make a good company even better and stronger,’ commented Samherji’s Thorsteinn Már Baldwinnsson. ‘We believe that Samherji's knowledge and strategy will help Nergård become a more vertically integrated company with a special focus on value added processing and sustainability. We believe that this change will bring Nergård closer to its goal of being a catch-to-plate provider.’

The acquisition remains to be approved by the Norwegian authorities.

Source: Samherji

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