Mitsubishi expands salmon farming via Norway & Canada acquisitions
"In recent years, securing food resources has become a critical global challenge driven by population growth," Mitsubishi said in a statement.
The acquisition of three companies from Norwegian Grieg Seafood ASA was made via Cermaq Group, Mitsubishi's salmon farming company with assets in Norway, Canada and Chile. It will boost salmon production to around 280,000 tons in the 2027 fiscal year, up from some 200,000 tons produced by Cermaq annually now.
The acquisition price is 10.2 billion Norwegian crowns ($988.33 million), Cermaq said in a separate statement.
Salmon is among the most popular sushi items in Japan, but the bulk of it is imported from other countries, including Norway and Chile. Japan aims to raise the share of locally sourced seafood it consumes to 94% in 2033 from 54% now.
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