The Scottish Salmon Company announced on June 21 that it was renaming its operations to Bakkafrost Scotland.
Bakkafrost, a salmon producer based in the Faroe Islands, acquired a majority stake in the Scottish Salmon Company in 2019, paying NOK 3.76 billion ($411.1 million, €374 million at the time of the sale) . According to a statement from the company, since then it has been working to “align businesses” in Scotland, and the name change will ensure that Bakkafrost operates as “one business”.
“When we acquired The Scottish Salmon Company, we saw the exceptional value of Scottish provenance and an opportunity to create Scotland’s leading and most sustainable salmon producer,” said Bakkafrost CEO Regin Jacobsen. “The next step in realizing this potential is the renaming of our Scottish operations to Bakkafrost Scotland. This represents an important step in our “one company” strategic direction, as we continue to build on our strengths and best practices across the group to fully benefit from the collective knowledge and skills of our passionate and talented employees. . »
Jacobsen said the name change is also a signal that Bakkafrost is fully committed to Scotland and that operations in the country are a key part of the company’s future plans.
These future plans include a five-year investment and sustainability plan which will consist of £711m ($871m, €824m) aimed at increasing the company’s salmon production by more than 40 %. According to Bakkafrost, a “substantial part” of this investment will be made in Scotland.
“The investment will create jobs, advance rural economies, develop business performance and improve day-to-day operations for Bakkafrost Scotland’s current 600 employees located on the West Coast of Scotland and the Outer Hebrides,” the company said. “The substantial investment in Scotland will also advance the broader salmon farming sector.”
Bakkafrost also said it expects recirculating aquaculture systems (RAS) to be part of the company’s development, with new facilities being set up in Scotland. The then Scottish Salmon Company signed a contract with Nofitech, an RAS technology company, in 2021 as part of a plan to transform its approach to salmon farming. Its four-year post-smolt innovation project, located in Applecross, Scotland, has also received public sector funding and will produce 500 gram smolts, depending on the company.
Bakkafrost Scotland t it plans to expand its use of RAS and that a second RAS installation is in the works.
“RAS technology will eventually be used across all freshwater production, transforming Bakkafrost Scotland’s operations,” Bakkafrost Scotland said. “Further details on the second facility will be announced over the coming months.”
Photo courtesy of Bakkafrost