Mowi entered into a strategic and industrial partnership agreement with Skretting (Nutreco), where the company produces feed based on Skretting’s feed formulation. The strategic partnership will deliver more than NOK 650 million in annualized net cost savings through improvements in feed formulation and recipes, procurement and logistics. Partnership agreement to build upon Mowi and Skretting’s existing long-term commercial relationship, and Skretting to make available its proprietary know-how, R&D capacity, data and procurement capabilities for.
The strategic review of its Feed Division announced on 4 March 2025 has now been concluded, and Mowi announced that they have entered into a strategic and industrial partnership agreement with Skretting/Nutreco. Mowi Feed will continue to produce feed, and feed production will now be based on Skretting’s feed formulation.
“Mowi and Skretting are a great match for each other, and the partnership with Skretting is our preferred outcome from the strategic review process. I am confident that teaming up with them will make Mowi into an even better salmon farming company. With this agreement, Mowi Farming secures the best performing feed in the coming years at the lowest cost in the industry. The partnership will deliver improved feed formulation and recipes for our European salmon farming operations which will drive significant cost improvements whilst ensuring top quality feed performance in the years to come”, said Ivan Vindheim, Mowi CEO.
Suppliers for Decades
Skretting has been one of Mowi’s feed suppliers for decades, known for delivering high quality salmon feed at a competitive cost. As feed formulation has become increasingly complex in recent years, nutritional know-how and an R&D focus within feed have become even more important. Teaming up with a partner that is at the forefront of driving feed innovations and offers these specialized competencies has been of key strategic importance to Mowi in the review process, and Mowi will pay a small annual consideration for this.
“We know the Skretting team extremely well and have enjoyed an excellent working relationship with them for decades. Now we are taking this cooperation to another level and formalizing how we can drive innovations and cost improvements. This partnership model presents a low-risk solution for Mowi while ensuring cost savings from day one on improved feed formulation and optimized procurement and logistics”, Vindheim says.
A key advantage of keeping Mowi Feed as-is with our excellent organization and the two state-of-the-art feed factories in Norway and Scotland, is that Mowi will retain the embedded profit in the feed value chain. There is reason to believe that the feed market will continue to tighten in the coming years which will make this part of the value chain even more profitable.
“The partnership model whereby Mowi Feed is retained gives us the best of both worlds; teaming up with Skretting with all the benefits that it entails and at the same time retaining Mowi Feed with an improved market outlook make this the most compelling solution”, Vindheim says.
Mowi is one of the world’s leading seafood companies and the largest producer of farm-raised Atlantic salmon in the world, with an estimated 2026 harvest of 605,000 tons from seven farming countries including Norway, Scotland, Ireland, Faroes, Iceland, Chile and Canada.
Mowi is a fully integrated global seafood company, bringing salmon and other seafood of supreme quality to consumers around the world, partly under its own MOWI brand. Mowi is ranked as the most sustainable listed animal protein producer in the world by Coller FAIRR.
With headquarters in Bergen, Norway, Mowi employs 12,300 people in 26 countries worldwide, and is listed on the Oslo Stock Exchange. Turnover was USD 6.52 billion in 2024.
