The competition watchdog has paved the way for a £164m deal saving more than 200 Shetland aquaculture jobs.
The UK Competition and Markets Authority (UKMA) has today (Wednesday) approved Scottish Sea Farms’ (SSF) bid to acquire Grieg Seafood Hjaltland UK.
The acquisition had originally been agreed in June – but the UKMA launched an inquiry in October seeking views on whether it might lead to a “lessening of competition” in the marketplace.
Today’s announcement clears a path for the deal to go ahead, possibly completing by the end of the year.
It comes just over a year after Grieg’s shock announcement that it was pulling out of Shetland.
SSF will take over Grieg’s freshwater hatchery, processing facility and 21 marine farms around Shetland and Skye which, combined, produced approximately 16,000 tonnes of Atlantic salmon in 2020.
Grieg’s 203 Shetland employees will also move over to SSF, which already has an extensive presence in Shetland.
SSF managing director Jim Gallagher said: “This is hugely positive news that promises farmers from both companies greater opportunity than ever before to create the best growing conditions, working collectively as one team with regards to the key factors of fish health, stocking regimes and sea lice management.
“This, in turn, will enable us to offer customers a more secure and stable supply of premium quality Scottish farmed salmon.”