Salmon processing facilities at Villa Organic. (Photo Credit: Villa Organic)

Leroy and SalMar acquire significant stakes in Villa Organic

Leroy Seafood Group has purchased 39.74 per cent of shares in the Norwegian salmon producer Villa Organic for NOK 161 million (USD 28 million). The announcement was made a few days after SalMar increased its stake in Villa Organic through the acquisition 27.85 per cent for NOK 100 million (USD 17 million) and then 13.45 per cent of the shares for NOK 47.8 million (USD 8.1 million), and, thus, will control 49.72 per cent of the company's shares.

Besides, SalMar has entered into an option agreement to purchase a further 0.7 per cent of the shares in Villa Organic AS.

Finnmark-based Villa Organic is a fully integrated aquaculture group operating along the entire value chain. It owns 16 salmon licenses and is looking to harvest 13,000 tonnes of Atlantic salmon this year.

The aquaculture enterprise’s two main shareholders until these sales took place, Akvainvest and Hofseth International, have now entirely sold out of Villa.

“It’s very positive that such serious actors are showing interest in what we are doing,” commented Villa’s CEO, Vidar Skaar, Undercurrent News reports.

“Following the acquisition of 10 licences in February 2012, SalMar entered into a long-term collaboration with Villa Organic AS in Laksefjord in Finnmark. This acquisition will strengthen the already well-established collaboration between Villa Organic AS and SalMar,” SalMar said in a statement.

Villa ended Q4 2012 with an operating loss of NOK 5.2 million (USD 910,000) compared to a greater loss of NOK 17.3 million a year ago, partly caused by a NOK 14 million- (USD 2.45 million) writedown of its biomass resulting from an outbreak of cold water vibriosis at one of its farm sites. For the year as a whole the cost of goods sold was reduced by 13 per cent.

It exited 2012 with a net interest-bearing debt of NOK 270.6 million (USD 29.75 million) and an equity ratio of 44 per cent.

Leroy and SalMar are the country’s second- and third-biggest salmon producers and they together operate one venture, Scottish Sea Farms, located in Argyll and the Shetlands.

By Natalia Real
[email protected]
www.seafood.media

Address:	Postvegen 13
City:	Ålensud
State/ZIP:	(N-6010)
Country:	Norway
Phone:	+47 70 17 81 70
E-Mail:	[email protected]
Skype:	https://www.instagram.com/villa.seafood/
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