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Top seafood group announces takeover of Morpol


2012-12-17



Marine Harvest, the world's largest producer of farmed salmon, on 17 December announced it has agreed to acquire 48.5% of shares in Morpol, the Ustka, Pomorskie-based, Oslo-listed major global processor of smoked and marinated salmon, from its founder and CEO Jerzy Malek in a deal worth NOK 938m (approx. €127m). The Norwegian group will also launch a full bid for the remaining Morpol shares within four weeks.

Alf-Helge Aarskog, Marine Harvest CEO, said Morpol’s activities and its wide range of high quality products made a very good fit with the group’s current processing business and downstream strategy. Morpol sells to 39 countries, but is particularly strong in Germany, a market where Marine Harvest has a limited presence. Furthermore, the acquisition of Morpol, which is renowned for quality and innovation in smoked and marinated salmon, is expected to give a strong boost to Marine Harvest’s innovation and product development.

Founded in 1996, Morpol currently employs over 3,500 people in eight countries and in 2011 generated revenues of €495m.



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