Monday May 12th Nordic Group AS led a team of investors in acquiring majority ownership in AS Baatsfjordbruket.
Nordic Group AS, headquartered in Trondheim, Norway, has since 1967 been one of the leading exporters of fresh and frozen seafood from Norway. The group had a turnover in 2013 of NOK 675 mill and employed 28 in the offices in Trondheim and Boston.
AS Baatsfjordbruket, located in the fishing community of Baatsfjord in Finnmark, Norway, has under the ownership and leadership of Kjell Olaf Larsen been recognized as one of the most dependable and successful seafood producers in Norway. Turnover was NOK 150 mill in 2013 with 78 employees.
For more than 30 years the cooperation between Nordic Group and Baatsfjordbruket has been mutually beneficial and important. The change of ownership is aimed at strengthening this cooperation.
“This acquisition confirms our desire for integration upstream in the value chain for Nordic Group. We wanted to move closer to the resource and to secure the continuation of supply for our customers of the high quality whitefish products that this producer has become known for,” said Terje Korsnes, Chairman of Nordic Group.
Terje Korsnes, also the majority stockholder in Nordic Group AS, is a native of Finnmark himself, and he continued:
“It has been important for us that the community of Baatsfjord knows that we are owners with appreciation for the importance of a healthy and strong company for the local economy. At Baatsfjordbruket we have very capable and committed employees who can look forward to continue in a safe and productive work environment with a bright future”.
The new Board of Directors will include the former owner and strong local representation, which under the leadership of Sigurd Larsen as chairman, will now begin the transition to new management and a new future for Baatsfjordbruket.
“We are pleased that Kjell Olaf Larsen is joining our efforts to have a smooth transition and that we shall benefit from his long experience as we seek to expand operations on the base he has built.” concluded Korsnes.