Oslo-listed salmon farming giant Marine Harvest said Friday it has entered into an agreement to purchase Northern Harvest, a leading East Coast Canadian salmon farmer, for CAD 315 million ($247.5 million/€208.6 million).
Northern Harvest is fully integrated with its own broodstock, smolt and hatchery, farming sites and processing operations.
Marine Harvest plans on paying for the acquisition in cash, using available credit lines under Marine Harvest's existing revolving credit facility.
Northern Harvest is expected to harvest 19,000 metric tons of salmon in 2018, and has 45 farming licenses in Newfoundland and New Brunswick.
