King Salmon acquires Blenheim site for future processing expansion

New Zealand King Salmon Investments Limited (NZX/ASX: NZK) announced its $8.14 million purchase of a commercial site in Blenheim has become unconditional. The site, at Cloudy Bay Business Park, is intended to support the company's future processing requirements and anticipated growth from the Blue Endeavour project. The transaction is expected to settle by October 7, 2025, with NZK funding the acquisition using existing cash.

The board emphasized that while this acquisition is a key investment for NZK's future, firm development decisions are contingent on meeting several stage gates. Any changes to current operations are anticipated to be at least three years away. The company's existing processing facility at 17 Bullen Street, Nelson, will continue to operate for the foreseeable future, while development options for the new Blenheim site are explored.

Nelson will remain a crucial hub for NZK, hosting research and development, corporate functions, and some factory processing operations. The acquisition is not expected to have any immediate or near-term impact on the Nelson factory's operations or staffing levels.