Pan Fish Scotland buys Highland Fish Farms Published: 26 February, 2007
Odd Geir Oddsen
PAN Fish Scotland (PFS) has announced that it has completed a £4.1 million deal to purchase Highland Fish Farms (HFF). Since 2002, PFS has been leasing sites in Lochs Torridon, Carron and Ness, and on Skye, from HFF, which was formerly owned by the Wood Group.
The management agreement under which the lease was agreed contained an option to purchase, which PFS has now exercised.
This is very much in line with our long-term strategic plan for taking the company forward, said PFS MD Odd Geir Oddsen. We regard the purchase of HFF as a very good deal for us. It will allow us to be even more cost-effective in the long term, as well as securing our future production volumes.
We are particularly pleased to have secured our future freshwater capacity. We now own a unique smolt site in Loch Ness, and we have been delighted with the high quality of fish we have been able to grow there.
PFS will be divested by Marine Harvest this year, under the terms of an agreement with the French competition authorities.
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