Mowi's Nova Sea acquisition gets final regulatory green light

Mowi's acquisition of Nova Sea AS, increasing its ownership from 49% to 95%, has received final approval from EU and Norwegian competition authorities as of October 21, 2025. This greenlights the transaction, with Mowi set to issue a voluntary offer to remaining shareholders. The deal, first announced on January 30, 2025, is expected to yield approximately NOK 400 million in annual synergies, primarily through improved capacity utilization and site portfolio in Mowi's northernmost region.

With Nova Sea, Mowi anticipates a pro forma harvest volume of 597,000 tonnes in 2025, with 372,000 tonnes from Norway and 161,000 tonnes from Northern Norway. This acquisition underscores Mowi's growth trajectory, having expanded global production from 400,000 tonnes to an expected 600,000 tonnes, representing an annual growth rate of 6.9% against the industry average of 3.6%. chief executive Ivan Vindheim highlighted the strategic importance for sustainable growth in Northern Norway.

Mowi, headquartered in Bergen, is a global leader in seafood and the world's largest Atlantic salmon farmer, employing 11,800 people across 26 countries. The company reported a turnover of €5.62 billion in 2024 and is listed on the Oslo Stock Exchange.