Bakkafrost buys US salmon importer

FAROESE salmon farmer Bakkafrost has entered into a conditional share purchase agreement with the owners of North Landing to purchase all outstanding shares of the US salmon importer.
Bakkafrost said it wanted to establish an American base to better serve its US customers. The deal is expected to be closed at the end of May.
North Landing focused on the US east coast and has a sales office, and handling and processing facilities in Clifton, New Jersey.
It was the first US company to import fresh salmon from the Faroe Islands and has been a customer of Bakkafrost for more than 10 years. North Landing has a staff of 36 employees.
North Landing will be restructured as a stand-alone subsidiary of Bakkafrost, and all business and commercial relations with North Landing prior to the acquisition are unchanged.
The US company will continue to offer the same products and services as prior to the acquisition, according to a statement issued by Bakkafrost yesterday.