Portugal-based retailer Jerónimo Martins has announced an investment of €16.8 million in the acquisition of 10.1% of Andfjord Salmon, a Norwegian company that produces sustainable salmon.
The investment, made through its agribusiness subsidiary Jerónimo Martins Agro-Alimentar, S.A., will make the retailer one of the largest shareholders in Andfjord Salmon.
'Innovative, Sustainable Business'
Pedro Soares dos Santos, Jerónimo Martins chairman and CEO, said, "We are investing in a promising and truly innovative, sustainable business project that is fully aligned with our corporate responsibility priorities.
"Andfjord Salmon’s project is focused on using efficient technology to produce salmon – a strategic product to our business- with less impact on natural resources, therefore contributing to conserve and sustainably use the ocean, the sea, and marine resources."
"In a challenging backdrop of both high pressure on the ocean stocks and food security, we believe that investing in this innovative and sustainable production will also work for us as a learning curve accelerator in what regards best practices in aquaculture projects," added the CEO.
Andfjord Salmon is based in Kvalnes, on the island of Andøya in the Arctic Archipelago of Vesterålen in Norway.
Martin Rasmussen, CEO of Andfjord Salmon, said, “We are delighted to attract such a major industrial investor to Andfjord Salmon. We consider it an advantage to have an owner that possesses extensive competence about international food industry sales, marketing, logistics, and distribution. Hopefully we can tap into this know-how when we are ready to bring our salmon to the market.”