Kelly Cove Salmon Ltd. (KCS), the Atlantic Canadian salmon farming division of Cooke Aquaculture Inc., acquired the defunct operations of AquaBounty in Prince Edward Island (PEI) in Canada.
AquaBounty was focused on land-based biotech farming and was best known for developing its Genetically Engineered (GE) salmon. “Cooke does not farm or sell any GE seafood products and has no plans to do so with this acquisition. Cooke supports transparency for consumers and has an “egg-to-plate” traceability capability to demonstrate the origin of its product. KCS intends to produce large smolts for stocking its existing ocean salmon farming sites in Atlantic Canada,” the company said in a press release.
This strategic acquisition marks a significant milestone in Cooke’s ongoing commitment to investing in Atlantic Canada to expand operations, create local jobs and advance the sustainability of the aquaculture industry through innovation and technology. Cooke has operated its True North Salmon smoked salmon processing plant in Charlottetown since 1997.
The AquaBounty assets include a series of four buildings on PEI including a hatchery facility with modern egg incubation and a high-tech laboratory in Bay Fortune. Rollo Bay hosts another modern hatchery facility, a new large modern recirculating aquaculture facility (RAS) facility, and a second unfinished building intended to house another large RAS unit, which KCS aims to complete.
“Our freshwater science and fish health team will take the necessary time to thoroughly assess the capabilities of these newly acquired R&D and fish rearing facilities,” said Glenn Cooke, CEO of Cooke Aquaculture Inc. “This evaluation will include a detailed analysis of the infrastructure, resources, and expertise. Hybrid systems involving a mix of efficient land-based hatcheries and ocean farming are the responsible and sustainable way to grow local salmon for food.”
“Our community is delighted to see a family seafood company known for its investments in rural coastal areas and its provision of stable, year-round employment acquire these assets," said Souris-Elmira MLA, the Honourable Robin Croucher, Minister of Minister of Education and Early Years. "It's fantastic to see Cooke expanding its presence on PEI, taking over these operations, and preserving jobs."
The operations will be run by KCS and the company has already rehired seven of AquaBounty’s former employees following the wind-down of the AquaBounty hatchery announced in December 2024.
In addition to growing large smolts for its existing salmon farming sites in Atlantic Canada, KCS also plans to begin the use of a new shipping route via well-boat at the Port of Souris.
