Norwegian seafood business Insula is to acquire the Salma premium salmon brand from local fellow processor Bremnes Seashore.
The ownership transfer is subject to regulatory approval in Norway, according to a statement. Financial terms of the deal are not being disclosed.
“Salma has a high reputation in Norway and other countries for being the number one premium brand for fresh sushi grade salmon. It fits well into our brand portfolio,” Insula’s CEO Amund Fjørtoft told Just Food in terms of the rationale for the deal, in which no employees will change hands.
The transaction includes brand rights for Salma as well as “some equipment”, he said.
Post-transaction, the Salma brand will be processed by Insula’s “sister” company Salmar, one of the major players in Norway’s seafood industry among the likes of Mowi and Lerøy Seafood Group.
Sigvald Rist, managing director of Insula in Norway, said in the statement that “Salma is a flagship in the Norwegian seafood industry, the result of impressive brand building and product development over many years”, adding the business plans on “further developing the brand”.
Fjørtoft added that the seafood industry in Norway “needs brands to drive innovation”, confirming the Salma salmon line stopped being produced and sold into local retailers in December.
Insula has plans to reintroduce the brand, which was first launched in Norway in 2006, “by autumn”, according to the statement.
Linda Litlekalsøy Aase, the CEO of Bremnes Seashore, added: “We take great pride in having built a brand [Salma] that has set the standard for quality and freshness in the Norwegian market… we are pleased that Salma has found a new home with Insula – a company with strong brand expertise, a robust distribution network, and, most importantly, dedicated and experienced professionals who understand this industry well”.
New owner Insula operates ten facilities in Norway, Sweden and Denmark, employing more than 1,000 people. Its brands include Lofoten, Frøya, Glyngøre and Amanda, as well as private label.
Insula posted revenue of Nkr7bn ($660.3m) in 2024. Most of that comes from private label – around Nkr6bn, Fjørtoft confirmed, adding that about Nkr2.5bn of group turnover is generated in Norway via both the retail and foodservice channels.
