Frøy ASA

M&A Activity • Apr 26, 2023

Frøy and NL Marine Services enter into strategic partnership in Eastern Canada

Frøy and NL Marine Services enter into strategic partnership in Eastern Canada

Frøya 26.04.23

Frøy ASA (“Frøy”) and NL Marine Services (“NLM”) have entered into a strategic partnership for the exchange of aquaculture specialists, vessels, and equipment in Eastern Canada. The agreement gives Frøy a strategic foothold in a fast-growing salmon farming region together with a local well reputable partner.

NLM is Canadian aqua service company based in Placentia Bay, Newfoundland. NLM has over the years built up a strong position in the aquaculture industry in Newfoundland. Today, the company own and operate 6 vessels, with a team of 30 aqua service specialists. The two companies will seek to jointly develop the aqua service offering in the region, benefitting from both companies´ competitive strengths.

«Entering into other salmon farming regions abroad is part of the growth strategy in Frøy. As communicated earlier, Frøy will prioritize and support salmon farmers in the regions where they operate, globally. The partnership with NL Marine Services is an important step for Frøy and strengthens our position as a leading provider of aqua services to the salmon farming industry", says Tonje Foss, CEO of Frøy.

For further information, please contact:

Tonje Foss, CEO +47 996 10 116

Sondre Vevstad, CFO +47 936 54 555

About Frøy: Frøy is a leading integrated provider of aqua services to Norwegian salmon farmers. With a team of more than 900 aqua service specialists and a modern fleet of 85 vessels, Frøy offers a wide range of infrastructure solutions to salmon farmers. The service offering includes transport of fish, sorting, counting, cleaning of nets, treatment for diseases and lice, inspection, installation and maintenance of salmon farming sites.