Saint John, New Brunswick, Canada-headquartered Cooke Inc. has entered into a share purchase agreement to acquire the salmon farming assets of Mowi Canada East, part of the Mowi ASA group, the world’s largest producer of Atlantic salmon. The price is reportedly CAD $225 million (US $158 million) on a debt-free basis.
“This is an exciting growth opportunity for our Atlantic Canada operations. We look forward to welcoming Mowi Canada East’s 250 employees to Cooke, and to working together to grow the sector and sustainably farm Atlantic salmon for customers in this region and beyond,” said Glenn Cooke, chief executive officer of Cooke Inc.
Headquartred in Bergen, Norway, Mowi, has Canadian operations in New Brunswick, Prince Edward Island, Newfoundland and Labrador, including freshwater hatchery facilities, sea farming sites and two processing plants. Standing salmon biomass was 9k GWT as of the end of June 2026.
“We are committed to growing the sector and continuing to invest in the region’s rural coastal communities,” said Cooke. “Our immediate objectives will be to stabilize and reinvest in the operations through synergies with our existing farming operations across Atlantic Canada.”
Atlantic Canada’s finfish aquaculture sector employs over 9,400 people, generates $3.2 billion in economic output, produces more than 356 million meals annually and supports approximately 1,400 local businesses, contributing over $600 million in additional economic activity.
The acquisition remains subject to due diligence and customary closing conditions, including regulatory approvals.
Established in 1985 by the Cooke family in New Brunswick with one farm site and 5,000 salmon, Cooke Inc. is the largest private family-owned seafood company in the world employing 15,000 people in 16 countries.
