en.Wedoany.com Reported - Norwegian seafood company Nordic Halibut has signed a share purchase agreement with Pure Norwegian Seafood (PNS), a specialized fish processing company, to acquire all shares of PNS.

PNS operates a processing facility on the island of Averøy in Møre og Romsdal County, equipped with a highly flexible production line capable of processing multiple fish species, with hygienic slaughtering capabilities and significant freezing capacity.

Nordic Halibut and PNS previously had a commercial relationship under a customer agreement. Following the acquisition, Nordic Halibut will take full control of the processing facility and related operations. Nordic Halibut stated that acquiring PNS is the final step in achieving full control over the entire value chain, from genetic breeding to harvesting, processing, and production. Obtaining the PNS processing facility is part of its expansion plan, with the company targeting an annual production of 10,350 tons HOG by 2031.

The acquisition consideration is based on an enterprise value of approximately NOK 60 million (about $6.1 million) for PNS, with the equity value determined after customary adjustments. The purchase price will be paid in cash at closing and is expected to be financed through new bank loans.