Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEconomyWhat Cooke's purchase of rival could mean for Atlantic Canada's salmon farmsCooke Aquaculture hopes to complete its purchase of Mowi Canada East’s Atlantic Canadian operations by end of 2026Last updated 1 week ago You can save this article by registering for free here. Or sign-in if you have an account.One of the Mowi Canada East aquaculture sites in Atlantic Canada that will be part of the acquisition of the company by Cooke Aquaculture Inc. Photo by Handout/Mowi.comThere’s been a major takeover in Atlantic Canada’s aquaculture industry, but neither of the companies involved in a deal reportedly worth $225 million will say much about it.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorOn June 30, Cooke Aquaculture Inc. announced it had entered into a share purchase agreement to acquire the salmon farming operations of Mowi Canada East Inc.Both firms declined interview requests, with Cooke indicating by email it would not be doing interviews because “the acquisition remains subject to due diligence and customary closing conditions, including regulatory approvals.”Cooke did issue a release to announce the deal.In it, Cooke’s chief executive officer called the purchase an exciting growth opportunity for the company’s Atlantic Canada operations.Cooke said it will continue to employ Mowi Canada East’s 250 or so employees after the deal is finalized.“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.The company is committed to growing the sector and continuing to invest in the region’s rural coastal communities, Cooke noted.“Our immediate objectives will be to stabilize and reinvest in the operations through synergies with our existing farming operations across Atlantic Canada.” According to Cooke Aquaculture Inc., it will continue to employ Mowi Canada East’s 250 or so employees after it takes over the company. Mowi.comMowi Canada East was created in 2018 by its parent company, Mowi ASA, the world’s largest producer of Atlantic salmon.It has operations in New Brunswick, Prince Edward Island and Newfoundland, and Labrador, including freshwater hatchery facilities, sea farming sites and two processing plants.Cooke Inc., established in New Brunswick in 1985, has grown to become the largest private family-owned seafood company in the world, employing 15,000 people in 16 countries.Bradley George, executive director of the Newfoundland Aquaculture Industry Association, didn’t expect the takeover, but was relieved to hear of Cooke’s commitment to maintaining the current level of employment in the industry and to rural Newfoundland and Labrador communities that benefit from the industry.“Cooke sees the long-term potential here, so they’re investing significantly in Atlantic Canada now, including (Newfoundland and Labrador),” said George. “The fact that they’re expanding here underscores the strength of our province’s potential.”In announcing the deal, Cooke said it is aiming for the transaction to formally close before the end of 2026.As of the end of last month, according to Cooke, the standing salmon biomass at Mowi’s sites throughout Atlantic Canada was 9,000 gutted weight tonnes.Atlantic Canada’s finfish aquaculture sector employs more than 9,400 people, generates $3.2 billion in economic output, produces more than 356 million meals annually and supports more than 1,400 local businesses, contributing over $600 million in additional economic activity.Mowi Canada East is the second major aquaculture company to shed its operations in Newfoundland and Labrador in 2026. Earlier in the year, Grieg Seafoods NL sold its presence in the province to Cermaq Group AS, a global company with fish farming operations in Norway, Canada and Chile. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.