Nordic Fish has taken over Kalaneuvos by acquiring 100% of its shares. The Finnish company is the largest breeder of rainbow trout in Finland and Sweden and the largest supplier of rainbow trout roe in the EU. Kalaneuvos is the largest producer of smoked fish in the Nordic countries. With this acquisition, the Finnish family-owned company expands its activities into the fish processing industry.
The largest operator in Finland’s fishing industry
“The acquisition supports and clarifies our companies’ growth strategy and our goal of becoming one of the largest producers of rainbow trout products in Northern Europe”, said Veijo Hukkanen, Chair of the Nordic Fish Board of Directors. “We are firm believers in the fish industry, as demand for fish products continues to grow globally because they are healthy, tasty, and have a low environmental impact. The carbon footprint of domestically farmed sea trout is very small, only 3.7 kg CO2-eq. per kilogram of fillet”, he added.
“Nordic Fish´s acquisition is a continuation of the increasing number of acquisitions and their coordination“, he continued. The company says it has continuously invested in expanding its fish farming operations to meet the growing demand for fish in Finland and around the world. Following this transaction, the future Nordic Fish Group will be one of the largest trout companies in the European fishing industry and the largest operator in the fishing industry in Finland.
Significant growth opportunities in fish products
Following the acquisition, all Kalaneuvos Group employees will continue to work in their current positions. “We are happy that Nordic Fish´s acquisition of Kalaneuvos is complete. From now on, we will work together according to our values and strategy”, said Toni Hukkanen, CEO of Nordic Fish Oy. According to him, the company sees significant growth opportunities in fish products internationally. “Demand for fish is growing strongly, and we want to support a healthy and sustainable lifestyle. The combined turnover from the companies in 2022 will be more than €160 million”, he added.
Until now, Kalaneuvos was owned by the Kalatalousneuvos (Fisheries Counsellor) Veijo Hukkanen and Toni Hukkanen. The Hukkanens are the entrepreneurial family behind Nordic Fish. The family has invested around €40 million in their businesses over the last three years. Most of them have been made with the intention of expanding the Sastamala factory and acquisitions.