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The acquisition of Vega Salmon is another step towards expanding Coast’s presence in the entire seafood value chain.
Coast Seafood Acquires Vega Salmon
(NORWAY, 1/18/2023)
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 (USD 189,692,100), headquarters in Kolding, Denmark, and a processing facility in Handewitt, Germany.
Sverre Søraa.
“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," says Søren Holm Tøth, Director Maj Invest Equity A/S.
"We are confident that Coast Seafood will be an excellent owner of Vega Salmon”.
Jakob Graasbøll Enemark.
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", says Jakob Graasbøll Enemark, CEO Vega Salmon.
"Vega and Coast is a good match both with respect to values and culture”.
Closing terms for the sale are not disclosed.
About Vega Salmon
Vega Salmon processes high-quality seafood products for retailers, wholesalers, food service and food industry all over the world. The products are sold under private-label brands and Vega brands.
Vega Salmon offers a broad range of high-quality products for retailers, wholesalers, food service and food industry all over the world.
Established in 2004, Vega Salmon has locations in southern Denmark and northern Germany, perfectly placed between Atlantic fish farms and the cooling disks all over the world. Throughout the value chain Vega Salmon conducts a zero-tolerance policy in terms of quality, food safety and sustainability.
About Coast Seafood
Coast Seafood is a global seafood company exporting more than 100,000 tonnes of seafood per year to 80 markets. With headquarters at Måløy, Norway, Coast has offices and facilities in Bergen, Berlevåg, Kjøllefjord as well as on the US East Coast.
Coast will always aspire to the strictest food security standards in the world. We have MSC certification for pelagic fish, while our organic salmon is certified by Debio and Krav, and we have Global GAP certification in order to ensure sustainable production of salmon and trout.
About Maj Invest
Equity Maj Invest Equity is one of the largest private equity investors in Denmark, administering approx. EUR 580 million in total. Maj Invest Equity has invested in more than 35 companies since 2005 and the portfolio currently consists of 11 companies. Maj Invest Equity is part of the Maj Invest Group.
(NORWAY, 1/18/2023)
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