Bakkafrost has entered into a conditional share purchase agreement with the owners of North Landing to purchase all outstanding shares of North Landing, a US salmon importer focusing on the East Coast. The deal is expected to be closed at the end of May.
”Bakkafrost’s intention in establishing a base of operation in the US, is to improve our abilities to serve our customers. Bakkafrost has over the last decade had an increased focus on market development, and by the acquisition of North Landing, Bakkafrost will have a better market access and will be able to provide the customers in one of the largest salmon markets with a wider range of services”, the company states on its webpage.
North Landing 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, writes Bakkafrost.
North Landing Ltd. will going forward be structured as a stand-alone subsidiary of P/F Bakkafrost, and all business and commercial relations with North Landing Ltd. prior to the acquisition are unchanged. North Landing Ltd. will continue to offer the same products and services as prior to the acquisition.
Image: Regin Jacobsen, Bakkafrost CEO
Image credits: Bakkafrost.com