Bakkafrost has entered into a conditional share purchase agreement with the owners of North Landing Ltd. to purchase all outstanding shares of North Landing Ltd. The deal is expected to be closed at the end of May 2018.
Bakkafrost’s intention in establishing a base of operation in the US, is to improve our abilities to serve our customers. Bakkafrost has over the last decade had an increased focus on market development, and by the acquisition of North Landing, Bakkafrost will have a better market access and will be able to provide the customers in one of the largest salmon markets with a wider range of services.
North Landing is a US salmon importer focusing on the East Coast and has a sales office, handling and processing facilities in Clifton, New Jersey. North Landing was the first US company to import fresh salmon from the Faroe Islands and has been a customer of Bakkafrost for more than 10 years. North Landing staffs 36 employees.
North Landing Ltd. will going forward be structured as a stand-alone subsidiary of P/F Bakkafrost, and all business and commercial relations with North Landing Ltd. prior to the acquisition are unchanged. North Landing Ltd. will continue to offer the same products and services as prior to the acquisition.