Two salmon farmers acquire local group in generation shift

Two Norwegian farming companies have acquired a stake in local salmon group Engesund.

The buyers, Troland Lakseoppdrett and Telavag Fiskeoppdrett, now each hold 30 percent of the company via ETT Havbruk.

"We look forward to exploit the potential in Engesund's business," Telavag Manager Svein Forland said in a company announcement.

Existing owner Gilje Group still holds a 40 percent stake in Engesund.

"We are very happy that Troland and Telavag are taking part in the initiative," Gilje Group Manager Svein Gilje said.