Grieg Seafood sells operations in Canada and northern Norway
The sale includes assets and operations in Marystown, on Newfoundland's Burin Peninsula.
The company employs 110 people in the community, operating 14 seawater licences in Placentia Bay and a land-based freshwater facility with offices in Marystown.
In a news release on Thursday, Grieg said Cermaq is "well placed to take the Newfoundland region further."
"Cermaq shares our values of farming with the lowest possible environmental impact and highest possible fish welfare, as well as of respecting and contributing to the rural and Indigenous communities where the operations take place," wrote company CEO Nina Willumsen.
"We are confident that the region is in the best hands and that it will continue to create local value long into the future."
In February, Grieg hit pause on its plans to expand the large-scale salmon operation in Marystown. The decision was largely driven by an inability to find a financing partner and the threat of economic tariffs from the United States.
Construction of the 17,500-square-metre post-smolt facility had also been delayed in October 2020 due to the COVID-19 pandemic.
Grieg's first harvest from Placentia Bay came in 2023 with roughly 5,000 tonnes of salmon.
The company told CBC News on Thursday it would not do interviews.
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