Mowi and Skretting join forces for feed partnership
Mowi has entered into a strategic and industrial partnership agreement with Skretting/Nutreco, instead of selling its feed division.
The move will see Mowi produce feed based on Skretting’s feed formulation.
The key highlights of the deal are:
- A strategic partnership to deliver more than NOK 650 million (EUR 55 million of £46m) in annualised net cost savings through improvements in feed formulation and recipes, procurement and logistics.
- Mowi Feed, with its two state-of-the-art factories, to be retained as-is, providing an expected EBITDA contribution in 2026E of NOK 825 million (EUR 70 million), and to capitalise on further tightening of the feed market in the coming years.
- Total EBITDA contribution of feed partnership with Skretting and retained Mowi Feed business unit of more than NOK 1,475 million (EUR 125 million/ £108m).
- Total earnings of NOK 1,475 million (EUR 125 million) equivalent to an EBIT per kg (GWT) of NOK 2.1 (EUR 0.18) for Mowi Group, and NOK 2.6/kg (EUR 0.22) for Mowi Norway. This corresponds to NOK 1.7 in earnings per share (EUR 0.14).
Skretting, the aquaculture feed business line of Nutreco, is a leading global aquafeed manufacturer and supplier with advanced nutritional expertise and R&D capabilities, and the partnership agreement aims to build upon Mowi and Skretting’s existing long-term commercial relationship, with Skretting making available its proprietary know-how, R&D capacity, data and procurement capabilities.
Mowi announced a strategic review of its feed division in March 2025. When it announced the review, the company said the process could have resulted in a sale.
However, in the latest statement it said it was pleased to announce it had entered into a strategic and industrial partnership agreement with Skretting/Nutreco.
The decision has been seen as a smart move by industry analysts.
Mowi Feed will continue to produce feed, but production will now be based on Skretting’s formulation.
Mowi CEO Ivan Vindheim said: “Mowi and Skretting are a great match for each other, and the partnership with Skretting is our preferred outcome from the strategic review process. I am confident that teaming up with them will make Mowi into an even better salmon farming company.
“With this agreement, Mowi Farming secures the best performing feed in the coming years at the lowest cost in the industry.
“The partnership will deliver improved feed formulation and recipes for our European salmon farming operations which will drive significant cost improvements whilst ensuring top quality feed performance in the years to come.”
Why not try these links to see what our Fish Farmer AI can tell you.
(Please note this is an experimental service)
You May Also Like
© 2026 Fish Farmer.