High Liner Foods has made a strategic move by acquiring a 4.5% stake in Norway’s Andfjord Salmon Group for C$10m ($7.29m). This investment will not only strengthen their position in the food and beverage industry but also align with current consumer trends favoring sustainable and eco-friendly seafood products.
Andfjord, known for its sustainable farming techniques using homemade plankton feed, operates in the waters off the northern Andøya island in Norway. The company plans to expand its production capacity with the help of the capital infusion from High Liner Foods.
High Liner CEO Paul Jewer highlighted the importance of land-based aquaculture in meeting the growing demand for salmon globally. By investing in Andfjord, High Liner aims to gain valuable insights into this sector and enhance its Atlantic Salmon business in North America.
This investment follows High Liner’s earlier stake acquisition in Norcod AS, a Norwegian company specializing in North Atlantic cod. By diversifying their portfolio with strategic partnerships, High Liner Foods continues to solidify its position in the food and drink business.
This move underscores High Liner’s commitment to sustainable practices and staying ahead of food and beverage industry trends. With a focus on innovation and sustainability, the company is well-positioned to meet the evolving needs of consumers seeking responsibly sourced seafood products.
