Oslo Business Memo



[press release] AquaGen AS has entered into an agreement to purchase 51 % of the shares in the Danish-based breeding company AquaSearch ova ApS, one of the world's leading suppliers of genetics for portion-size trout market.

Globally, portion-size trout is one of the fastest growing aquaculture sectors and has become an important commodity of animal protein. Production in 2016 was 650,000 tonnes, with annual growth of 5-7 % over the last 3 years.

AquaSearch ova, established in 2006, is a leading global player in breeding and egg production of trout. From its headquarters in Billund, the company has developed a competitive product portfolio with a very cost-effective production and distribution from its 6 broodstock farms in Denmark. A very high level of bio-security enables the company to access all global trout markets.

“Our association with AquaSearch ova represents an important strategic milestone for AquaGen. With this we get a new platform for growth and value creation, helping AquaGen to maintain and strengthen its commitment to trout breeding. Due to a limited market for large trout, many breeding companies in Europe and Chile have chosen to close down their breeding programs for trout. AquaSearch ova's strong position within the portion-size trout sector completes our commitment to all farmed species of salmon and trout. There is a great potential for AquaSearch ova and AquaGen to gather interesting synergies through exchange of experience, cooperation on R & D and the use of joint technology platforms in the breeding work”, says Odd Magne Rødseth, Chairman of AquaGen.

"This transaction is very positive for the trout industry, because it helps to provide advanced technology and research resources to more trout farmers around the world", said Torben Nielsen, CEO of AquaSearch ova. "I'm glad that AquaSearch ova will be part of a group that has a long-term commitment to developing and distributing trout genetics. The ability to share leading knowledge and breeding technology within different species will strengthen the development necessary to meet the rapidly growing demand for seafood, and with the global reach of AquaGen and EW Group, we can further develop our global distribution to reach all important trout markets”, says Nielsen.


  • About AquaSearch ova

AquaSearch ova ApS is the leading breeding company and egg supplier in Denmark with extensive egg export. The company is ranked among the 3-5 largest suppliers of rainbow trout eggs to fresh- and sea farms.

With the origin in 6 Danish breeding stations with the highest bio-security status, AquaSearch ova has since 2006 continued the breeding work and developed a   range of new products for the rainbow trout industry. The breeding lines established in the 1960’s form the basis for today's production of broodfish and egg for sale to trout farmers in Europe, North America, South America, Africa and Asia.


  • About AquaGen

AquaGen AS is a breeding company which develops, produces and distributes genetic material to the global aquaculture industry. Since the 1970’s, the company has grown through a market-oriented research and product development to become the leading provider of fertilized eggs of Atlantic salmon and rainbow trout. The company is based in Trondheim, Norway, with several wholly-owned and joint venture operations in Norway, Scotland and Chile.



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