Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Drinks | Retail | Videos
Food Business Review
Return to: FBR Home | News

AquaGen to buy 51% stake in AquaSearch ova

FBR Staff Writer Published 15 August 2017

Norway-based breeding firm AquaGen has agreed to acquire 51% stake in Denmark-based rainbow trout eggs supplier AquaSearch ova for an undisclosed sum.

In 2016, the production of portion-size trout stood at 650,000 tonnes and its annual growth for three years was 5-7%.

Set up in 2006 and headquartered in Billund, AquaSearch ova specializes in breeding and egg production of trout.

From the firm’s six broodstock farms in Denmark, the company, which can access all trout markets through bio-security, built a product portfolio with cost-effective production and distribution.

AquaGen chairman Odd Magne Rødseth said: “Due to a limited market for large trout, many breeding companies in Europe and Chile have chosen to close down their breeding programs for trout. AquaSearch ova’s strong position within the portion-size trout sector completes our commitment to all farmed species of salmon and trout.

“There is a great potential for AquaSearch ova and AquaGen to gather interesting synergies through exchange of experience, cooperation on R & D and the use of joint technology platforms in the breeding work.”

AquaSearch ova CEO Torben Nielsen said: “This transaction is very positive for the trout industry, because it helps to provide advanced technology and research resources to more trout farmers around the world.

“The ability to share leading knowledge and breeding technology within different species will strengthen the development necessary to meet the rapidly growing demand for seafood, and with the global reach of AquaGen and EW Group, we can further develop our global distribution to reach all important trout markets.”

In March 2017, AquaGen has acquired 100% stake in Profunda, a facility in Barstadvik, Møre and Romsdal county, Norway, which produces land-based broodstock of Atlantic salmon.

Image: AquaGen to buy 51% stake in AquaSearch ova. Photo: Courtesy of AquaGen.