8F, the impact-focused global investment firm behind land-based salmon farming company Pure Salmon, has 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.
All employees will have the opportunity to join the new entity while Rasmussen will continue on in his role as CEO of Pure Salmon Kaldnes RAS.
Industry- leading track record
The aquaculture unit has a 55-strong team. Over the past 15 years, it stablished as one of the leading providers of recirculating aquaculture systems (RAS), 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, situated at Tjuin, Steinkjer. Confirmed just after the acquisition, Pure Salmon Kaldnes RAS will deliver the technological solutions for this NOK 1.2 billion project.
Sustainability at the center of a global growth plan
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 an annual production of 260,000 tons. The group has invested in vertically integrated facilities in the US, Poland, France and Japan, and is already planning further land-based farming projects in China, South East 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.
Anchored in Norway and expanding globally
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.
Director- Business services, Per Håkon Stenhaug, added that the company is also planning a significant staff increase in several departments.
«Despite being sufficiently staffed at the moment, we follow a long-term strategy of hiring and developing competent professionals for future assignments. Our new owner will obviously make us a more attractive employer for the best talents,” said Stenhaug.
About 8F Asset Management
- 8F Asset Management Pte. Ltd. is a Singapore-regulated and headquartered investment manager with group offices in Hong Kong, London and Frankfurt.
- It manages private equity funds that invest in vertically integrated aquaculture production and processing facilities, using land-based sustainable Recirculating Aquaculture System (RAS) technology, creating material positive social and environmental impact.
About Pure Salmon
- Pure Salmon Pte. Ltd. is the global operating company for 8F’s land-based salmon business.
- The company is on course to build and operate multiple large-scale facilities targeting 260,000 tons of annual Atlantic salmon production over the coming years.
- Pure Salmon has recently announced plans in Japan, France, China, South-East Asia and Abu Dhabi.
Pure Salmon provides a range of expertise to the facilities globally through its team of industry veterans. This includes hatchery, production, processing, purchasing, quality assurance, distribution and brand management, in addition to central finance and HR functions.
- Each Pure Salmon farm uses Recirculating Aquaculture Systems (RAS), a proven and scalable technology.
- Pure Salmon grows its fish in the healthiest living conditions possible, that closely replicate the positive qualities of their natural environment, while significantly lowering the cost of production and reducing the pressure on the environment compared to traditional sea-cage farming.
- Pure Salmon is clean, healthy, tasty and free of antibiotics, hormones, pesticides and microplastics.