US Edition
Grieg Exits B.C. Salmon Farming with US$990M Sale to Cermaq
CANADA AND NORTHERN NORWAY, JUL 17 – Grieg Seafood exits Canadian and Norwegian markets due to economic pressures and regulatory risks, selling operations worth 10.2 billion kroner to Cermaq, a Mitsubishi Corp. subsidiary.
- On July 17, 2025, Grieg Seafood finalized the sale of its assets in Canada and northern Norway, including its Atlantic salmon farming sites and North American sales unit, to Cermaq for a total of 10.2 billion Norwegian kroner .
- Grieg halted investments earlier this year in British Columbia due to U.S. tariff threats and a government ban on salmon farming, creating economic uncertainty.
- Grieg’s British Columbia operations consist of 11 marine farms located along both sides of Vancouver Island, a freshwater production site situated in Gold River, and a workforce exceeding 120 staff members.
- Cermaq, owned by Mitsubishi, produces about 200,000 tonnes annually and will expand operations off Vancouver Island, with CEO Steven Rafferty hoping for more federal support.
- Grieg Seafood CEO Nina Willumsen stated the sale positions the regions and companies for future success while Grieg focuses on sustainable aquaculture in Norway.
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Leaning Left13Leaning Right2Center2Last UpdatedBias Distribution76% Left
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L 76%
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