Scanbio Marine Group AS (“Scanbio”), a leading producer of fish protein concentrate, fish meal and fish oil from fresh and fresh preserved fish by-products, recently announced that it has entered into a definitive agreement to acquire Tank og Masse-Transport AS (“TMT”) and Haugland Sjotransport AS (“HS”), two independently owned and operated Norwegian companies that collect, store and transport fish by-product from aquaculture fisheries and fish processing facilities in Norway. The transactions, which are subject to customary closing conditions, are expected to close in the fourth quarter of 2012. Financial terms were not disclosed.
TMT collects, stores and transports category-2 (“K2″) and category-3 (“K3″) fish by-product from aquaculture fisheries and fish processing facilities in Norway. HS owns two state-of-the-art vessels, the Haugfjord and Haugbas, which are leased to TMT. The two vessels are expected to complement Scanbio’s current fleet.
TMT and HS are majority owned by Ole and Kenneth Haugland , who will continue to work with Scanbio after the closing of the transactions.