Greig Seafood sells Shetland operations in £164m deal

Scottish Sea Farms has announced it has bought Grieg Seafood in a £164 million deal.

The business transfer includes 21 active farm sites across Shetland and Skye, a new land-based feeding central, a freshwater facility and a processing plant. 

Scottish Sea Farms will welcome Grieg Seafood Shetland’s 203 employees.

Grieg Seafood Shetland has been through a rigorous process of restructuring and improvements over the last years, which is now showing results.

Sea lice levels are at an all-time low, reduced by 85% at the end of May compared to last year. Survival rates have improved to 90%. 

Grieg Seafood ASA announced plans to sell its Shetland operations last autumn, to focus on farming activity in Norway and Canada. 

Andreas Kvame, chief executive of Grieg Seafood ASA, said: “I want to sincerely thank all employees of Grieg Seafood Shetland for their efforts for the company, especially during the difficult times of the pandemic.

“Grieg Seafood Shetland has worked diligently on improvements across the board over the last years, which are now bearing fruits with higher survival, lower sea lice levels and more sustainable operations. I am pleased that we are handing over operations in good shape.  

“Going forward, Grieg Seafood will narrow our focus, resources and investments to Norway and Canada to strengthen our presence in these production regions. As such, is it only right to let others, who have Shetland high on their agenda, develop the Shetland operations further. 

“I am pleased that another innovative and responsible salmon producer like Scottish Sea Farms will take over the operations, and I am confident that they will keep creating value for the local communities in Shetland for years to come.”