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8F acquires Krüger Kaldnes

Tuesday, June 15, 2021

8F, the global investment firm behind land-based salmon farming company Pure Salmon, acquired the aquaculture division of Krüger Kaldnes from Veolia. “The new company, Pure Salmon Kaldnes RAS, will focus on what it does best, land-based fish farming,” said Kent Kongsdal Rasmussen, CEO of Pure Salmon Kaldnes RAS.  

Over the past 15 years, the aquaculture unit from Veolia established as one of the leading providers of recirculating aquaculture systems, offering a full range of value-add services including maintenance, consulting, operational support and training. Its clients include some of the world’s largest fish farming companies such as Salmar, Lerøy and Mowi. It notably delivered the two largest smolt facilities in the world, Helgeland Smolt and Lerøy Sjøtroll. Most recently, it was selected by Salmar to build one of the world’s largest and most advanced production facilities of juvenile fish in Norway. Confirmed just after the acquisition, Pure Salmon Kaldnes RAS will deliver the technological solutions for this NOK1.2 billion ($144 million) project.  

Through its global operating company, Pure Salmon, 8F builds and operates land-based Atlantic salmon facilities worldwide. In doing so, it follows a “local production for local consumption”-model and targets annual production of 260,000 tons. The group has invested in vertically integrated facilities in the U.S., Poland, France and Japan, and is already planning further land-based farming projects in China, Southeast Asia and the Middle East.    

“Our ambition with Pure Salmon is to become the largest global sustainable salmon producer. Pure Salmon Kaldnes RAS is a powerful addition to the vertical integration of our business model. With their know-how and expertise in delivering large-scale land-based facilities, we will contribute to supplying the world with nutritious, healthy, clean, traceable and locally produced protein,” said Stephane Farouze, founder of 8F and chairman of the Board of Pure Salmon.   

Rasmussen added that the company will remain an integral and active part of the Norwegian aquaculture ecosystem. It remains committed to existing clients and will offer its services and expertise in the market. “Norway is a global leader in aquaculture benefiting from a rich and innovative ecosystem of farmers, suppliers, academic research and education. Therefore, it is crucial for us to continue to run a large business here. At the same time, we become part of a fast-growing global champion that will accelerate our international development and strengthen our leading position,” said Rasmussen.  

The company is also planning a significant staff increase in several departments.  

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