The Danish private equity firm Maj Invest has on December 30th 2022 entered into an agreement to sell its shareholdings in Vega Salmon, a Danish-based salmon processor, to Coast Seafood. The transaction was closed on January 12th 2023.
Vega Salmon is a high-end salmon processor with offices in Kolding, Denmark, and production facilities in Handewitt, Germany. Vega Salmon primarily produces fresh and smoked salmon products, which are distributed to customers worldwide. The company is known for its commitment to food safety and product innovation, including utilisation of by-products for human consumption. In 2021/22, Vega Salmon generated revenues of DKK 1.3bn and has since 2012 been owned by the private equity firm, Maj Invest.
Coast Seafood is a Norway-based seafood company engaged in global export of Norwegian seafood. The company exports more than 100.000 tons of seafood annually, and supply 80 different markets with various fish species, such as salmon, trout, cod and herring.
Alpha Corporate Finance has acted as financial advisor to Maj Invest in the transaction. DLA Piper Denmark acted as legal counsel.
The transaction is planned to close in January 2023.