Cooke buys AquaBounty Canada for hatchery facilities
We don't farm GE fish and have no plans to, stresses salmon heavyweight
Canadian fish farming heavyweight Cooke Aquaculture has agreed to buy the Canadian subsidiary of former land-based salmon producer AquaBounty.
The CAD 3 million deal, worth approximately CAD 1.58 million to AquaBounty after its debts to Cooke subsidiary Kelly Cove Salmon are taken into account, includes AquaBounty Canada’s physical property and “a transfer to KCS of all of AQB’s Corporate registered intellectual property”.
Massachusetts-headquartered AquaBounty farmed salmon which inherited a genetic modification made more than 30 years ago that enabled them to reach harvest size more quickly.
Cooke stressed in the statement that it does not farm or sell any genetically engineered seafood products and has no plans to do so with the acquisition of AquaBounty Canada. It has bought the company for its hatcheries.
"The AquaBounty assets include a series of four buildings on PEI (Prince Edward Island), a hatchery facility with modern egg incubation and a high-tech laboratory in Bay Fortune," said Cooke.
"Rollo Bay hosts another modern hatchery facility, a new large modern recirculating aquaculture facility (RAS) facility, and a second unfinished building intended to house another large RAS unit, which Kelly Cove Salmon aims to complete."
Cooke chief executive Glenn Cooke said: “Our freshwater science and fish health team will take the necessary time to thoroughly assess the capabilities of these newly acquired R&D and fish rearing facilities.
"This evaluation will include a detailed analysis of the infrastructure, resources, and expertise. Hybrid systems involving a mix of efficient land-based hatcheries and ocean farming are the responsible and sustainable way to grow local salmon for food.”
Kelly Cove Salmon said it has already rehired seven of AquaBounty’s former employees following the wind down of the AquaBounty hatchery announced in December 2024.
