Acquisition of remaining minority interest

RNS Reach

17 February 2023

Benchmark Holdings plc

("Benchmark", the Group, or the "Company")

Acquisition of remaining minority interest in Benchmark Genetics Iceland

Benchmark Holdings, the aquaculture biotechnology company, announces that it has acquired the remaining 10.52% minority interest in its subsidiary Benchmark Genetics Iceland. Enhanced by the recent construction of a new incubation centre, Benchmark Genetics Iceland is core to the Company's ability to supply highly specialist, biosecure salmon eggs to salmon producers to c.35 countries around the world, year-round. Benchmark Genetics Iceland represents 50% of the Group's salmon egg capacity.

Background

In December 2014 Benchmark acquired a 89.48% interest in Stofnfiskur, subsequently rebranding it Benchmark Genetics Iceland and merging it with its salmon genetics business in Norway. Since the acquisition, the business has grown substantially, benefitting from Benchmark's leading market position, investment and knowledge transfer within the Group. 

Trond Williksen commented:

"Benchmark's genetics operations in Iceland have a 200m egg capacity and are core to our ability to supply highly biosecure salmon eggs year round to customers around the world. The acquisition of the remaining minority interest is a natural step in delivering shareholder value through full ownership of the success of our genetics business."

Rabobank acted as financial adviser to Benchmark in the transaction.

Enquiries

About Benchmark 

Benchmark is a market leading aquaculture biotechnology company. Benchmark's mission is to drive sustainability in aquaculture by delivering products and solutions in genetics, advanced nutrition and health which improve yield, growth and animal health and welfare.

Through a global footprint in 26 countries and a broad portfolio of products and solutions, Benchmark serves major aquaculture species - salmon, shrimp, sea bass and bream and tilapia - in main aquaculture regions around the world. Find out more at www.benchmarkplc.com