Mowi Acquires Majority Stake in Nova Sea in $656M Deal

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Mowi Acquires Majority Stake in Nova Sea in $656M Deal

Salmon farming giant Mowi has acquired a controlling stake in fellow Norwegian salmon farmer Nova Sea in a NOK 7.4 billion ($656.4 million) agreement.

Mowi negotiated a deal with Nova Sea's founding family, Vigner Olaisen AS, to acquire its controlling stake in Nova Sea AS. According to a company announcement, Mowi increased its ownership in Nova Sea from 49% to 95%.

“Nova Sea is a frontrunner in the Norwegian aquaculture industry and is known for its excellent biological performance and industry-leading margins...

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