Kaldvik AS Strengthens Market Position with New Acquisitions
Kaldvik AS, recognized as a significant player in fish farming, has taken substantial steps to solidify its operations in Iceland by concluding a vital acquisition. This strategic move reflects Kaldvik's determination to enhance its position in the fish farming value chain.
Completion of the Acquisition
The company announced that it has successfully completed the acquisition of three critical entities on the east coast of Iceland. This deal includes 100% ownership of Mossi ehf. and Djupskel ehf., along with a 33.3% interest in Bulandstindur ehf. This acquisition consolidates Kaldvik's hold on key aspects of the fish farming industry, ensuring better control over the supply chain.
Financial Overview
The total purchase price for the Transaction has been set at approximately NOK 190 million. The financial arrangements for this acquisition are notably structured as follows: For Djupskel and Bulandstindur, NOK 150 million will be settled through a promissory note, which can eventually be converted into consideration shares at NOK 27.60 per share. Additionally, Kaldvik will allocate NOK 40 million for Mossi, arranged as an unsecured, interest-free seller's credit with a maturity date set for December 31, 2025, providing flexibility in how this amount is settled.
Support from Financial Advisors
Kaldvik AS sought extensive support during this transaction. Pareto Securities AS served as the financial advisor, alongside AGP Advokater AS, which provided legal guidance throughout the negotiations. ABG Sundal Collier ASA offered financial insights, while Advokatfirmaet Thommessen AS was responsible for legal advice on behalf of Heimstø and Osnes.
Leadership Contacts
The leadership team is available for further inquiries. Roy-Tore Rikardsen, the CEO, can be reached at +354 791 0006, while the CFO, Robert Robertsson, is available at +354 843 0086. They are eager to discuss the implications of these acquisitions and the future roadmaps for Kaldvik AS.
About Kaldvik AS
Kaldvik AS stands at the forefront of the salmon farming industry within Iceland. The company boasts a fully integrated value chain, overseeing all processes from the hatchery stage to sales. This comprehensive control allows Kaldvik to deliver a sustainable, high-quality product that meets the growing demands of consumers. With a commitment to excellence and sustainability, Kaldvik AS is dual-listed on Euronext Growth Oslo and First North Iceland Growth Market, signifying its robust position in the financial landscape.
Frequently Asked Questions
What companies did Kaldvik AS acquire?
Kaldvik AS acquired 100% of the shares in Mossi ehf. and Djupskel ehf., along with a 33.3% stake in Bulandstindur ehf.
What is the total cost of the acquisition?
The total cost of the acquisition is approximately NOK 190 million.
How will Kaldvik finance the acquisition?
The acquisition will be financed through a combination of promissory notes and an interest-free seller's credit.
Who are the financial advisors involved in this transaction?
Pareto Securities AS and ABG Sundal Collier ASA acted as financial advisors, while AGP Advokater AS and Advokatfirmaet Thommessen AS provided legal guidance.
What is the significance of this acquisition for Kaldvik AS?
This acquisition strengthens Kaldvik's position in the fish farming sector, allowing better control of the supply chain and enhancing operational efficiency.
