Atlantic Canada’s Salmon Producer Cooke Enters into Share Purchase Agreement to Acquire Mowi Canada East

Saint John, N.B. – Cooke Inc., one of Atlantic Canada’s largest salmon producers, has entered into a share purchase agreement to acquire the salmon farming operations of Mowi Canada East.

“This is an exciting growth opportunity for our Atlantic Canada operations. We look forward to welcoming Mowi Canada East’s 250 employees to Cooke, and to working together to grow the sector and sustainably farm Atlantic salmon for customers in this region and beyond,” says Glenn Cooke, CEO, Cooke Inc.

Mowi has operations in New Brunswick, Prince Edward Island and Newfoundland and Labrador, including freshwater hatchery facilities, sea farming sites and two processing plants. Standing salmon biomass was 9k GWT as of the end of June.

“Cooke is committed to growing the sector and continuing to invest in the region’s rural coastal communities,” says Cooke. “Our immediate objectives will be to stabilize and reinvest in the operations through synergies with our existing farming operations across Atlantic Canada.”

Atlantic Canada’s finfish aquaculture sector employs over 9,400 people, generates $3.2 billion in economic output, produces more than 356 million meals annually and supports more than 1,400 local businesses, contributing over $600 million in additional economic activity.

The acquisition remains subject to due diligence and customary closing conditions, including regulatory approvals.

About the Cooke family of companies:

Cooke Inc. was established in 1985 by the Cooke family in New Brunswick, Canada. From humble beginnings of one farm site and 5,000 salmon, Cooke Inc. is the largest private family-owned seafood company in the world employing 15,000 people in 16 countries. The Cooke family of companies operate global aquaculture and wild fishery divisions providing a sustainable seafood source reaching tables all over the world.