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Jerónimo Martins Group invests in Andfjord Salmon

Jeronimo Martins Group invests 16.8 million euros in the acquisition of 10.1% of the Andfjord Salmon, Norwegian company for sustainable salmon production. Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.

"Just a few days before the 2022 United Nations Ocean Conference in Lisbon, we are investing in a promising and truly innovative sustainable business project that is fully aligned with our corporate responsibility priorities. Andfjord Salmon’s project is focused on using efficient technology to produce salmon – a strategic product to our business- with less impact on natural resources, therefore contributing to conserve and sustainably use the ocean, the sea and marine resources. In a challenging backdrop of both high pressure on the ocean stocks and food security, we believe that investing in this innovative and sustainable production will also work for us as a learning curve accelerator in what regards best practices in aquaculture projects” says Pedro Soares dos Santos, Jerónimo Martins Chairman and CEO.

With this investment, done through its agribusiness subsidiary Jerónimo Martins Agro-Alimentar, S.A., Jerónimo Martins Group becomes, with 10.1% of the Company’s shares, one of the largest shareholders in Andfjord Salmon, located at Kvalnes on the island of Andøya on the Arctic Archipelago of Vesterålen, Norway.

“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 Salmon.