Bakkafrost acquires fish feed producer Havsbún

27. Aug 2011

On the 29th of June, Bakkafrost acquired the Faroese meal and fish feed producers Havsbún.  The acquisition also included the two salmon farming companies Viking Seafood and Faroe Farming, in which Havsbún was the majority shareholder.  This acquisition brings the number of aquaculture companies in the Faroe Islands down to 3.

Viking Seafood and Faroe Farming are to be integrated into Bakkafrost and all sales (previously handled by the joint sales company, Salmex) will now be undertaken by Bakkafrost Sales.

With this acquisition Bakkafrost has increased their vertical integration even further as they are now also able to produce their own meal and fish feed.  This gives them control over the entire production process, from feed to sales.

By acquiring Viking Seafood and Faroe Farming, Bakkafrost has also increased their production capacity significantly and thereby created even greater economies of scale.

The two factors mentioned above will make Bakkafrost less vulnerable to fluctuations in price and should improve both long-term and short-term profitability.

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