Private equity fund snaps up Norwegian salmon producer
The investment will form the basis for developing a bigger producer, said the fund.
Seafood investor Broodstock Capital has bought Norwegian salmon hatchery Neptun Salmo as part of the development of a larger independent producer.
The investment was made through the purchase of shares from existing owners and the injection of new equity.
Broodstock Capital will become the majority owner of the company after the transaction and has committed capital to further growth through both the expansion of existing facilities and acquisitions, it said in a press release.
"Everyone agrees that good hatchery fish are crucial," said Hakon Aglen Fredriksen, partner at Broodstock Capital. "We also believe that specialization in the value chain will be a sensible part of the further industrialization of the industry.
Neptun Salmo was established in 1990, with headquarters in Namsos, Trondelag, central Norway and land-based facilities in the same region.
In 2024, the company had sales of approximately NOK 90 million (€7.7 million/$8.9 million) and currently has 16 employees. For 2025, the company has increased its total annual production to approximately 5.4 million smolts, having opened a new recirculating aquaculture system (RAS) facility in the summer of last year.
"With Neptun, we now have a solid platform – with skilled people who have both decades of experience from hatchery fish and strong expertise in modern RAS technology. From there, we will use capital and drive to build something even bigger and even better," said Fredriksen.
The investment will be "targeted and focused" said Broodstock Capital.
"Our strategy is simple and clear, added Neptun Salmo CEO Anders Bjorkli. "We will produce first-class hatchery fish on the fish's own terms, and be an independent and strategic partner for both post-smolt producers and traditional fish farmers across the country."
Broodstock Capital will be represented on the board with partners Fredriksen and Pal Kristian Moe. In addition, industry advisor Terje Eidesmo will join as chairman of Neptun Salmo.
"This is a classic industrial investment for Broodstock, where we take active ownership and provide our toolbox to make something that is good even better," said Broodstock Capital.
Broodstock Capital was established in 2016 with Ferd as an investor. Four years later, the company was restructured, Ferd increased the stake and until this year owned almost the entire company.
It is the four partners in Broodstock who have bought Ferd out.