Private equity firm buys 75% stake in Malek's Polish salmon processing venture

Industry veteran Jon Hindar is appointed chairman of the company.

Private equity firm Summa Equity has bought 75 percent of the shares in Milarex, a salmon processor based in Poland and founded by Jerzy Malek.

The new headquarters will be established in Oslo.

Milarex is a company that started processing salmon at a factory in Gdansk, Poland, in 2016.

The company has earned money since it started production and is already a leading supplier of smoked salmon to major European grocery chains.

The company has an annual output of 5,500 metric tons of finished goods and works over time to utilize the power capacity of more than 30,000 metric tons.

In 2017, the company is expecting sales of around NOK 1 billion (€106.7 million/$124.3 million).

The company was founded by Polish entrepreneur Malek, who was also behind Morpol, the world's largest salmon processor, which he sold to Marine Harvest in 2012.

In addition Jon Hindar, the former CEO of Cermaq, is appointed chairman of the company.

Malek will continue to be active in the company as a shareholder and board member.

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