Grieg Seafood has successfully completed the sale of its operations in Finnmark and Canada to Cermaq Group. The transaction was finalised on December 29, 2025 following the agreement first announced in July 2025.
The deal was based on an agreed enterprise value of NOK10.2 billion ($1.01 billion) on a cash and debt free basis. This valuation assumed a normalised working capital for the transferred business units.
The company confirmed that the dividend guidance provided during the third quarter presentation remains in effect. Details regarding the timeline and distribution of the dividend will be released in early 2026.
This approach is intended to maintain transparency and align with the capital allocation strategy of Grieg Seafood.
Grieg Seafood added that the completion marks a significant shift in the operational footprint of the firm.
Mitsubishi, Cermaq’s parent company, has said the acquisition of Grieg Seafood would increase salmon production to about 280,000 tons in the 2027 fiscal year, from roughly 200,000 tons produced annually by Cermaq.