Norwegian Salmon Farmers Acquire Arctic Seafood Group

A group of Norwegian Salmon Farmers have acquired Arctic Seafood Group, a distributor of snow crab in the U.S.

Sjybol, Kobbvåglaks and Selsøyvik Havbruk have reached an agreement with the owners of Arctic Seafood Group to purchase 100% of the shares in the company. Through the acquisition, they gain control of Organic Seafarm, which has 1,856 tonnes of commercial maximum allowed biomass (MTB) for salmon production, three sites in Nordfjorden (Gildeskål), its own operating organization, land base, and operations center in Nygårdsjøen, Norway.

Arctic Seafoods is a San Francisco, California, based corporation, a major distributor of Barents Sea Red King and Opilio Snow Crab in the U.S.

Sjybol, which among other things owns Lovundlaks, becomes the largest owner in the company with 49%. Kobbvåglaks and Selsøyvik Havbruk will each own 25.5%. The companies are locally owned fish farmers with established operations in Helgeland.

“It is a pleasure that we, as small and medium-sized players, can together strengthen local ownership in the region, especially at a time when consolidation in the industry is the norm. We believe that we will continue to be efficient and sustainable food producers for the foreseeable future, while continuing to develop the communities in which we operate. To achieve this, it is particularly important to have predictable framework conditions from the government,” says Jørgen Aakre, General Manager of Sjybol.

The sellers of Arctic Seafood Group (ASG) are Friendmall (Jerzy Malek), Hawk Seafood, and employees of the company. ASG has been farming salmon since 2016 and has grown in recent years through the purchase of licenses and the further development of production sites. Through strong local expertise, cooperation with other operators in the area, and favorable natural environmental conditions, the company has achieved high survival rates, high fish quality, and a low feed conversion ratio—on par with many of the best-run fish farming companies in Norway.

“We are very satisfied with the group that will take responsibility for the company’s continued development. This secures local roots and helps preserve value creation, jobs, and expertise along the coast. With skilled employees, a clear focus on profitable operations, and strong biological results, we are well-equipped to compete with the biggest players in the market. We are convinced that this is a good solution for the company, our employees, and its continued development,” says Nicolaj Weiergang, General Manager of ASG.

Facts:

• Arctic Seafood Group owns 100% of the subsidiaries Organic Seafarm and AFC Analytics. The group’s business is related to salmon production. The company was previously also involved in cod production, but this part of the business has been separated prior to the transaction.
• Organic Seafarm is a salmon producer located in Nygårdsjøen in Gildeskål Municipality.
• Sjybol, Kobbvåglaks, and Selsøyvik Havbruk are locally owned aquaculture companies producing salmon in Helgeland.
• The transaction will be completed through the sale of 100% of the shares in Arctic Seafood Group in July 2026.
• Arctic Securities, KPMG, and SANDS have acted as advisers to the sellers.
• Arntzen Grette and Nordaførr have acted as advisers to the buyers.