Lerøy Seafood Group is one of the world’s largest salmon farmers and Norway’s largest trawler company. Lerøy is also a large distributor of salmon and seafood products. Based in Bergen, the company has a history of more than 100 years within sales and distribution and has been involved in salmon farming since 2003. The company’s consolidated salmon farming operations are located in Norway. In addition, the company has a 50/50 joint venture in Scotland handled as an associated company.
LSG farming is concentrated around three regions in Norway; North (Lerøy Aurora), Mid (Lerøy Midt) and West (Lerøy Sjøtroll). In 2020, LSG harvested 171k tonnes of salmon in Norway, representing around 13% of the Norwegian production. In 2016, LSG acquired Havfisk and Norway Seafoods for a total equity value of NOK 3.2bn. After this acquisition, LSG became Norway’s largest trawler company and an even larger distributor of seafood. Adding around 150k tonnes of whitefish volumes to its distribution channel.
LSG’s downstream division, VAP, Sales and Distribution, is Norway’s largest seafood distributor. LSG is also large processor of salmon in Norway, Sweden, Finland, The BeNeLux and Turkey. In 2014, LSG partnered up with the largest Norwegian retailer, Norgesgruppen, with the goal of supplying Norwegian retail stores with a better selection of fresh seafood products with a new factory in Oslo.
The company has been listed on OSE since 2002. At the listing in 2002 Lerøy Seafood Group did not control any farming assets in Norway and the growth to become one of the largest salmon farming companies in the world is mainly done with retained earnings. LSG is controlled by Austevoll Seafood, which holds a 52.7% stake in the company. Other major shareholders are primarily Norwegian institutional investors.
Represented by: CEO Henning Beltestad (speaker), Sjur Malm
Agenda (CEST): 0910-0920
Agenda parallel session: Track 1, part 1
Physical/Digital: Physical
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