Dive Brief:
- Mitsubishi Corp. will pay $1.39 billion to acquire Norway's Cermaq, which operates salmon farms in Norway, Canada, and Chile.
- Mitsubishi, best known as an automaker, is no stranger to the fish business. The conglomerate owns salmon farms in Chile.
- The Cermaq deal is primarily seen as a way for Mitsubishi to secure supply for customers in its home nation of Japan.
Dive Insight:
This is the time to buy a salmon farm. The pen-raised fish, once seen as second-rate by chefs and consumers alike, has suddenly begun to win converts from chefs and foodies alike.