Sheffield’s Benchmark buys rest of salmon egg business

Benchmark Holdings, the Sheffield-based quaculture genetics, health and nutrition company, announced that it has acquired the remaining 10.52% minority interest in its subsidiary Benchmark Genetics Iceland.

“Enhanced by the recent construction of a new incubation centre, Benchmark Genetics Iceland is core to the company’s ability to supply highly specialist, biosecure salmon eggs to salmon producers to c.35 countries around the world, year-round,” said the company.

“Benchmark Genetics Iceland represents 50% of the group’s salmon egg capacity.”

Benchmark acquired a 89.48% interest in Stofnfiskur in December 2014, subsequently rebranding it Benchmark Genetics Iceland and merging it with its salmon genetics business in Norway.

Since the acquisition, the business has grown substantially.

Benchmark CEO Trond Williksen said: “Benchmark’s genetics operations in Iceland have a 200m egg capacity and are core to our ability to supply highly biosecure salmon eggs year round to customers around the world.

“The acquisition of the remaining minority interest is a natural step in delivering shareholder value through full ownership of the success of our genetics business.”

Rabobank acted as financial adviser to Benchmark in the transaction.