Scotland business

Scottish Salmon Company 'considering sale offers'

Scottish Salmon Company quality control Image copyright Scottish Salmon Company

The Scottish Salmon Company (SSC) has disclosed that it is considering a potential sale of the firm.

The Edinburgh-based salmon producer said it had received several formal expressions of interest to purchase part or all of the company.

Oslo-listed SSC said a sale was among several "strategic options" being considered as part of a review it launched in April.

According to SSC, the review aims to "maximise value" for shareholders.

The firm has about 60 sites in Scotland, with more than 600 employees.

Review 'ongoing'

In a stock exchange announcement, SCC said: "The review is ongoing and progressing in line with expectations.

"Among the options being considered within the framework of the review are several formal, non-binding expressions of interest to purchase part or all of the company that have been received by the company via its financial advisor Daiwa Corporate Advisory Limited."

It added: "No assurance can be given that any specific outcome will be proposed or completed as a result of this process."

SSC said it expected the review to conclude by September.

The company reported revenues of £53.5m for the first quarter of this year - up from £43.3m in the same period of last year.

Harvest volumes increased by 22% to 8,725 tonnes, with revenue per kilo also increasing in the quarter, driven by continued strong prices.

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