Mowi announces strategic review of feed division

Mowi said it is initiating a strategic review of its integrated feed division, assessing all available options, including a sale.

In 2024, the division generated operating revenues of €1.12 billion ($1.19 billion). Its core assets include feed mills in Norway and Scotland with production capacity of 460,000 tonnes and 240,000 tonnes respectively.

These plants supplied practically all of the feed requirements of Mowi's European salmon farming operations last year said the company. In total, Mowi's feed division employs 140 full time workers.

"In just a few years Mowi has grown from a 400,000 tonnes farmer to approaching a 600,000 tonne farmer with production in seven countries and 11 farming regions with all the complexity that entails," said Ivan Vindheim, Mowi CEO.

"Mowi also has an extensive downstream business in 26 countries. In order to streamline our operations, we therefore feel the time is ripe to assess how our feed division will be organised in the future."

Mowi said it had engaged Arctic Securities to assist with the review.

"While the company will now initiate a structured process, there is no certainty as to whether any transaction will arise, nor as to the terms thereof," Mowi stressed.