Norwegian seafood company Insula is set to acquire the Salma premium salmon brand from fellow local processor Bremnes Seashore. This ownership transfer is pending regulatory approval in Norway, and the financial details of the transaction remain undisclosed.
“Salma has a high reputation in Norway and other countries for being the number one premium brand for fresh sushi grade salmon. It fits well into our brand portfolio,” stated Insula’s CEO Amund Fjørtoft when discussing the rationale behind the deal, which will not result in any employee transfers.
The transaction encompasses brand rights for Salma along with “some equipment,” according to Fjørtoft. Following the acquisition, the Salma brand will be managed by Insula’s affiliated company, Salmar, which stands as a key player in Norway’s seafood industry alongside giants like Mowi and Lerøy Seafood Group.
Sigvald Rist, managing director of Insula in Norway, emphasized that “Salma is a flagship in the Norwegian seafood industry, the result of impressive brand building and product development over many years.” He further noted that the company plans to “further develop the brand” in the future.
Fjørtoft pointed out the importance of brand innovation in Norway’s seafood sector, highlighting that Salma salmon production and sales to local retailers ceased in December. Insula is gearing up to reintroduce the Salma brand, which was originally launched in Norway in 2006, “by autumn,” as mentioned in the statement.
Linda Litlekalsøy Aase, CEO of Bremnes Seashore, expressed pride in building a brand like Salma that has set standards for quality and freshness in the Norwegian market. She remarked, “we are pleased that Salma has found a new home with Insula – a company with strong brand expertise, a robust distribution network, and, most importantly, dedicated and experienced professionals who understand this industry well.”
Insula operates ten facilities across Norway, Sweden, and Denmark, employing more than 1,000 individuals. Its portfolio includes established brands such as Lofoten, Frøya, Glyngøre, and Amanda, alongside private label offerings.
In 2024, Insula achieved revenue of Nkr7bn ($660.3m), primarily driven by private label sales, which accounted for approximately Nkr6bn. Fjørtoft confirmed that around Nkr2.5bn of the group’s turnover originates in Norway through both retail and foodservice channels, indicating the company’s substantial presence in the food and beverage industry trends.
As the food and drink business continues to evolve, the acquisition is poised to enhance Insula’s market positioning and respond effectively to food and drink consumer trends, capitalizing on the increasing demand for high-quality seafood products.