Pelagia acquires 100% of the shares in Aquarius

The move follows the Pelagia acquisition of Hordafôr, the largest shareholder of Aquarius.

December 14, 2022

In the late 1990s, Vigner Olaisen, together with several other local players, established Aquarius in Lovund. Subsequently, in 2008, Hordafôr became the largest shareholder in the company which lead to many years of strong growth and development at Aquarius. In 2021, Pelagia acquired full ownership of Hordafôr which means that Aquarius is an important part of Pelagia’s overall structure.

In 2022, Aquarius landed a record volume of pelagic byproducts at Lovund, all of which were utilized in the production of protein concentrate and fish oil. This in turn creates a circular economic environment, as the products produced by Aquarius are then sold to aquafeed producers for inclusion in salmon aquaculture feed products.

An agreement to acquire the entire shareholding in Aquarius has now been signed by Pelagia.

Egil Magne Haugstad, CEO of Pelagia AS, said that “Aquarius is an efficient well-run factory and we look forward to being an integral part of its future development. Pelagia strives to be a good customer to our suppliers by utilizing a combination of efficient operations, a coherent marketing strategy and a strong internal working culture. As such, Pelagia will use this acquisition to further benefit Lovund and our suppliers.”