• They assure that the brand will remain after the merger as an independent company
This week it became official: the salmon farming company Nova Sea has formally joined the international giant Mowi. When the news was announced, it was specified that the Nova Sea brand and its activities in Lovund, in northern Norway, will continue as before. It should be remembered that, a year ago, Mowi increased its stake in Nova Sea to 95%, after which it made a voluntary offer to the remaining shareholders.
According to Mowi CEO Ivan Vindheim: “Nova Sea has been a guiding star in Norwegian aquaculture for many years, with solid biological results and margins at the top of the industry. This is something we want to preserve now that we are becoming one company.”
The acquisition was formally approved by Norwegian and international competition authorities in October 2025, since when Mowi has been working on integrating the two companies.
The Nova Sea Brand Will Remain
In a press release, it was announced that the Nova Sea brand will remain after the merger as an independent company, and its salmon will continue to be marketed by the Lovund sales and marketing team. Activities in the Nordland enclave will also continue as before, including the construction of the new salmon slaughterhouse.
Meanwhile, Orjan Tveiten will become regional director of the ‘new’ Mowi Norway North. “The aim is for this process to contribute to sustainable growth and new opportunities in northern Norway and Helgeland,” he said, adding that he will continue to build on the foundations that have been laid in Lovund over several decades.
Entire Value Chain
Nova Sea is a leading salmon farmer in production area 8 in Northern Norway and covers the entire value chain from broodstock and smolt production to harvesting and sales. The company harvested around 52,000 tons of salmon in 2025. Mowi has been a large minority owner in Nova Sea since 1995 and knows the company well.
In January 2025, when the process of purchase was started, Mowi CEO, Ivan Vindheim, said that was impressed by what the company and its owners have achieved: “Nova Sea is a frontrunner in the Norwegian aquaculture industry and is known for its excellent biological performance and industry-leading margins. Over 50 years, the company and the Olaisen family have invested in the organization and developed it into an impressive, fully integrated operation. It is therefore with great pleasure that we are now, after 30 years, combining our operations” said Vindheim.
For its part, Mowi holds a leading presence in Northern Norway and will, together with Nova Sea, have an expected harvest volume of 157,000 tons of salmon in this region in 2025, as well as 367,000 tons in total for Norway and 572,000 tons worldwide.
“Nova Sea and Mowi are a very good match and this combination will benefit the company, fish welfare and the whole organization. Value creation and community building along the coast, and especially in Northern Norway, is very important to us. I believe this will create more value and more jobs in Nordland over time,” says Aino Olaisen, Chairman of the Board of Nova Sea.
As expected, the integration is to yield significant synergies, including improved capacity utilization by leveraging the location portfolio in Region North and by further strengthening biological performance through investments aimed at improving fish health.
Preliminary synergy estimates were in the range of USD 41.34 million on an annual basis. In January 2025, Mowi today holded 49% of Nova Sea and then acquired Vigner Olaisen’s 46% in the company for USD 764.86 million through a 30% settlement in Mowi shares and 70% in cash.
