Jerónimo Martins invests in Andfjord Salmon

Portugal-based food industry group Jerónimo Martins has invested NOK173.9 million in Andfjord Salmon through a private placement. With this investment, Jerónimo Martins becomes one of the largest shareholders in the fish producer, with an ownership share of 10.1%.

"We are investing in a promising and truly innovative sustainable business project that is fully aligned with our corporate responsibility priorities," says Pedro Soares dos Santos, Jerónimo Martins Chairman and CEO. "Andfjord Salmon's project is focused on using efficient technology to produce salmon … with less impact on natural resources, therefore contributing to conserve and sustainably use the ocean, the sea and marine resources."

By investing in Andfjord's sustainable production, Mr Soares dos Santos said he hoped it would work as a "learning curve accelerator" when it came to learning the best practices in aquaculture operations.

Andfjord Salmon is aiming to develop the world's most sustainable fish faring facility of its kind, with a flow-through system that is key to recreating salmon's natural habitat on land. The hopes are to produce salmon with low energy consumption and the smallest possible environmental footprint.

The company's sustainability efforts were an important factor in Jerónimo Martins' investment in the company. It currently invests heavily in sustainable food production and distribution and has been recognised by Disclosure Insight Action at a leadership level in Climate and Water Security programmes. The group is the only food retailer in the world to score an A- in most commodities linked to deforestation: palm oil, cattle and soy.

"We are delighted to attract such a major industrial investor to Andfjord Salmon. We consider it an advantage to have an owner that possesses extensive competence about international food industry sales, marketing, logistics and distribution. Hopefully we can tap into this know-how when we are ready to bring our salmon to the market," says Martin Rasmussen, CEO of Andfjord.

Andfjord Salmon is planning to release smolt in its first pool at Andøya this month, with excavation work for the next pools happening now. It holds a license to produce 10,000 tonnes of salmon. More information about this can be read about HERE.

"Jerónimo Martins Group's approach to sustainable food production and operations is highly impressive," adds Mr Rasmussen.

For more information on Jerónimo Martins visit their website, HERE.

For more information on Andfjord Salmon visit their website, HERE.

The Aquaculturists

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