Foley Hoag Represents Northern Harvest Sea Farms in Sale to Marine Harvest
January 9, 2018
Foley Hoag LLP recently represented the shareholders of Canadian-based Northern Harvest Sea Farms Inc. in its agreement to be acquired by Marine Harvest ASA (OSE:MHG), one of the largest seafood companies in the world and the world’s largest producer of Atlantic salmon, for CAD 315 million.
Founded in 1985, Northern Harvest Sea Farms is based in L'Etang, Canada, with farming operations in New Brunswick and Newfoundland. The company engages in the production of farmed Atlantic salmon, as well as processes trout, char, and halibut. Its products are primarily sold in eastern Canada and the northeastern United States.
Headquartered in Bergen, Norway, Marine Harvest also has operations in Scotland, Canada, the Faroe Islands, Ireland and Chile. The company supplies salmon and processed seafood to more than 70 markets worldwide. The acquisition of Northern Harvest supports Marine Harvest's strategy of being a world leading and integrated producer of seafood proteins. The transaction is subject to approval by relevant competition authorities and customary closing conditions.
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