Aker BioMarine makes its biggest acquisition ever

Aker-owner Kjell Inge Røkke Aker BioMarineAker-owner Kjell Inge Røkke.Photo: Stian Lysberg Solum / SCANPIX

Aker BioMarine makes its biggest acquisition ever

Røkke’s company Aker BioMarine buys krill business for NOK 270 million. The seller Neptune is completely stopping their krill business and will focus on medical cannabis.

 

Aker BioMarine has harvested krill since 2007 and has a turnover of approximately 1 billion kroner. The $ 34 million acquisition will boost growth in the company.

“There are large fixed costs in the industry, and scales are therefore very important. We have now grown big enough to achieve profitability and have thus matured as a company.

The most important thing is now to accelerate growth, says Matts Johansen, CEO of Aker BioMarine, to Dagens Næringsliv.

The company takes over Canadian Neptune’s patents, brands and customers in the krill business. No employees are transferred to Aker BioMarine.

The Nasdaq-listed Neptune withdraws from the krill oil market and is consentrating on medical cannabis.

“The revenue from the sale will enable Neptune to accelerate its commitment to positioning the company in attractive growth segments such as cannabis oil extraction,” said Neptune boss Jim Hamilton in a press release on Tuesday.

 

© NTB Scanpix / Norway Today

 

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