The growth could be organic or via acquisitions, Isaksen said.

Cermaq announced this week it would sell its all its Scottish operations to Morpol for NOK 350 million (€44.2 million/$57 million).

This will provide a net gain of roughly NOK 75 million (€9.5 million/$12.2 million), Cermaq said.

The sale means the group’s salmon activities, which are regrouped under its Mainstream unit, are only present in Norway, Canada and Chile.

Scotland unsatisfactory

The sale was partly motivated by the small size of the Scottish activities. The group had long “wanted to find a better strategic solution” for Scotland, Isaksen said.

With a production capacity of some 6,500 metric tons, Scotland accounted for barely 7 percent of Cermaq’s total production.

Without