Mowi, a leading global seafood company, has announced its plans to acquire Nova Sea, a prominent player in the Norwegian aquaculture industry. The transaction, expected to be finalized in the second half of 2025, will see Mowi taking over the remaining 51 percent of Nova Sea’s shares, in addition to the 49 percent it already holds. Ivan Vindheim, CEO of Mowi, expressed his admiration for Nova Sea’s achievements, highlighting the company’s exceptional biological performance and industry-leading margins.
With over 50 years of experience, Nova Sea has established itself as a fully integrated operation under the leadership of the Olaisen family. Vindheim praised the company’s dedication to innovation and development, emphasizing the strategic value of combining the operations of Mowi and Nova Sea after three decades. This consolidation will position Mowi as a major player in the Norwegian aquaculture sector, with an expected harvest volume of 157,000 tonnes of salmon in northern Norway, contributing to a total of 367,000 tonnes for Norway and 572,000 tonnes worldwide for the year.
Aino Olaisen, chairman of Nova Sea, echoed Vindheim’s sentiments, emphasizing the mutual benefits of the merger for both companies. Olaisen highlighted the importance of value creation and community development, particularly in Northern Norway, expressing confidence that the collaboration will lead to increased job opportunities and economic growth in the region. As part of the agreement, Olaisen has been nominated as a board member of Mowi, further solidifying the partnership between the two entities.
The integration of Mowi and Nova Sea is anticipated to generate significant synergies, with a focus on enhancing fish health and overall operational efficiency. By leveraging Nova Sea’s strategic locations in Region North and investing in initiatives to improve biological performance, Mowi aims to optimize capacity utilization and drive operational excellence. Preliminary estimates suggest that the synergies derived from the merger could amount to approximately NOK 400 million on an annual basis, underscoring the potential for value creation and operational improvements.
In addition to the financial benefits, the merger between Mowi and Nova Sea is expected to have a positive impact on fish welfare and sustainability practices within the aquaculture industry. By combining their expertise and resources, the companies aim to set new standards for environmental stewardship and responsible aquaculture practices, aligning with their shared commitment to sustainable seafood production.
Looking ahead, Mowi and Nova Sea are poised to capitalize on their combined strengths to drive innovation, growth, and value creation in the global seafood market. With a focus on operational excellence, sustainability, and community development, the merger represents a strategic milestone for both companies, positioning them for long-term success and leadership in the evolving aquaculture landscape.
As the transaction progresses towards completion, Mowi and Nova Sea are committed to a seamless integration process that prioritizes stakeholder engagement, operational efficiency, and strategic alignment. By leveraging their complementary capabilities and shared vision for the future, the companies are poised to unlock new opportunities and drive sustainable growth in the aquaculture sector.
