Bakkafrost, Scotland, entered into an agreement to acquire Northern Link’s 68.6% stake of the shares in The Scottish Salmon Co. (SSC), Scotland.
“The review had been initiated by the board, and we are pleased with the outcome, reflecting the true value that has been created in recent years. We are proud of what we have achieved, and on behalf of the board, I thank the management team, employees, customers and all stakeholders involved in this exciting journey,” says Robert Brown III, chairman of the board for SSC.
“The board of SSC considers this offer to be in the best interest of all shareholders, as it realizes the material value that has been created after nine successive quarters of growth,” adds Craig Anderson, chief executive officer of SSC. “The board initiated the independent strategic review in order to assess options to realize value and deliver future growth from the business. The review has been successful in terms of the volume and quality of the companies that have participated in the process, and has resulted in this acquisition to create a major global salmon farming business.”