Mowi Sells Canadian East Salmon Operations to Cooke for $225M — Mowi ASA

Event summary

Mowi has agreed to sell its 9,000 GWT salmon farming operations in Canada East to Cooke Inc. for CAD 225 million on a debt-free basis.
The transaction is expected to close in the second half of 2026, pending competition approval and due diligence.
Mowi will take a write-down of approximately CAD 140 million as part of the deal.
The sale reduces Mowi’s 2026 volume guidance from 605,000 GWT to 600,000 GWT.

The big picture

Mowi’s sale of its Canadian East operations to Cooke Inc. reflects a broader industry trend of consolidation in aquaculture, as companies seek to streamline portfolios and focus on high-growth regions. The deal underscores Mowi’s strategic shift toward core farming geographies, aligning with recent moves by other seafood giants to optimize asset bases amid fluctuating market conditions.

What we're watching

Portfolio Optimization: How Mowi’s divestment will impact its core farming geographies and long-term growth strategy.
Regulatory Approval: Whether the transaction receives timely competition approval, given the scale of the deal.
Financial Impact: The pace at which Mowi can offset the CAD 140 million write-down through other operational efficiencies.