Seafood processor Cooke has struck a deal to acquire Norwegian rival Mowi's salmon farming business in eastern Canada for C$225 million. The transaction includes freshwater hatchery facilities, sea farming sites, and two processing plants across New Brunswick, Prince Edward Island, and Newfoundland and Labrador. Cooke CEO Glenn Cooke called the deal an exciting growth opportunity and said the company looks forward to welcoming Mowi Canada East's 250 employees. Mowi said the sale will allow it to focus more on core farming geographies and has lowered its 2026 volume guidance from 605,000 GWT to 600,000 GWT, expecting a C$140 million write-down. The deal is subject to due diligence and regulatory approvals and is expected to close in the second half of the year.
Mowi ASAMowi sells its Canada East business for C$225m, lowers 2026 volume guidance, and expects a C$140m write-down.
Cooke acquires Mowi's salmon farming business in eastern Canada for C$225m, expanding its operations.