The acquisition is subject to approval from the authorities in Norway and is expected to close in the second quarter of 2025.
Global company BioMar has signed an agreement to acquire full ownership of LetSea, Norway’s leading experimental and research centre for aquaculture by taking over the remaining shares from KapNor and located on Dønna municipality, on the Helgeland coast. With this investment, BioMar aims to consolidate and advance its innovation work, including waterborne feeding, the development of new feed ingredients, and continuous improvements in fish performance, health and welfare.
BioMar owns now 34% of the shares in LetSea. The acquisition is subject to approval from the authorities in Norway and is expected to close in the second quarter of 2025.
“This acquisition creates a unique position for BioMar as we secure access to further R&D capacity in Norway. At the same time, we will welcome a team of very competent research staff into our organization, with an already established collaboration”, explains CEO Carlos Diaz, BioMar Group.
According to them, the acquisition reinforces BioMar’s position as a global leader in research and development for fish feed and strengthens its innovation capacity within aquaculture feed solutions.
Many Years of Collaboration
After many years of successful collaboration with LetSea on research and development, BioMar signs an agreement to achieve full ownership, further strengthening the company’s position in research and innovation for responsible fish feed solutions.
Founded in 1996, LetSea offers a comprehensive range of controlled trials and projects with infrastructure ranging from 5x5m tanks to full-scale sea cages. Located on the Helgeland coast, its facilities in Dønna allow for detailed assessments in controlled cages, providing an ideal environment for testing feed and technology across the entire production cycle.
“LetSea’s unique facilities and expertise complement our existing research efforts, enhancing our ability to innovate and test new solutions under real-life seawater conditions,” said for his part Simon Wadsworth, Global R&D Director at BioMar. “Our long-standing collaboration has already delivered significant value to our customers, and we look forward to continuing this journey together,” he added.
The Best Possible Way
BioMar‘s Board of Directors has approved the acquisition after many years of co-ownership and successful collaboration in research and development. Today, BioMar owns 34% of the shares in LetSea. Even so, the acquisition is subject to approval from the authorities in Norway and is expected to close in the second quarter of 2025.
“The aquaculture industry and feed have developed rapidly over the past 20 years, and LetSea has played an important role in this. Going forward, BioMar will continue to ensure that we can develop feed concepts, raw materials and feed technology solutions for our customers in the best possible way,” said for his part Håvard Y Jørgensen, CEO of BioMar Norway.
Established in 1996
LetSea was established in 1996 and is today Norway’s largest experimental and research center for aquaculture. They research contributed to developing continued sustainable growth for Norway’s largest renewable export industry. LetSea is located in Dønna municipality on Helgeland, a coast with natural conditions for fish farming. There are clear, clean waters with high flow and favorable temperatures regulated by the Gulf Stream.
Their assignments span the entire spectrum of experiments and research. They have a practical, industry-oriented starting point and comprehensive concepts that facilitate profitable and sustainable production, better fish health and increased sustainability with a reduced environmental footprint.
LetSea currently has 70 employees. They are co-owners in Biolaks, which develops their own technology for closed facilities, and in Water Front Development, the Bjørnsøya research park in Dønna.
“LetSea is a recognized international center for research and development in aquaculture. Our quality policy is to develop and optimize methods and conduct applied trials in the aquaculture industry,” Kristian Johnsen, Managing Director.
The post <em>BioMar</em> Signs an Agreement to Acquire Full Ownership of <em>LetSea</em>, Leading Norwegian Research Center for Aquaculture appeared first on Aquaculture Magazine.
