Hofseth
Hofseth International AS is a Norwegian vertically integrated salmon and trout company that farms, processes, and globally distributes seafood through wholly-owned subsidiaries to leading grocery and restaurant chains across Europe, North America, and Asia, differentiated by proprietary IceFresh thawing, Havliljen submersible cages, Egget closed containment systems, and Hofseth BioCare nutraceutical ingredients.
- Company typePrivate
- Founded2002
- HeadquartersÅlesund, Norway
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Hofseth does
Hofseth International AS is a Norwegian vertically integrated salmon and trout producer operating the full value chain from smolt production through sea farming, harvesting, processing, and global distribution. Founded in 2002 by Roger Hofseth and headquartered in Ålesund, the company farms approximately 16,000 tonnes of salmon and trout annually, processes roughly 50,000 tonnes of salmonids, and produced 190 million portions in 2025 across facilities in Ålesund, Valderøy, Syvde, Tafjord, and Stranda. Hofseth employs more than 650 people worldwide and serves leading international grocery and restaurant chains through wholly-owned sales subsidiaries in North America (Nashville, Tennessee), Europe (Hamburg, France, UK), and Asia (Singapore, Shanghai, Bangkok).
Underlying the core seafood business is a stack of proprietary technology: IceFresh thawing technology that enables a frozen-to-refreshed distribution model with over 80% CO2 reduction versus air freight; Havliljen submersible steel cages (62m diameter, developed by 77%-owned Nekst AS) that mitigate sea lice exposure; Egget closed containment systems (zero escapes, zero sea lice, sludge collection) under construction for Storfjorden deployment with first fish planned for 2027; and the Hofseth BioCare (HBC) biotech platform that upcycles 100% of salmon side-streams into bioactive peptides, lipids, and collagen marketed under the ProGo brand to nutraceutical manufacturers. Hofseth BioCare is a separately listed entity on the Oslo Stock Exchange. The company holds ASC, Global G.A.P., Debio Organic, HACCP, and BRC/IFS certifications and operates as the only salmonid farmer in Storfjorden.
Hofseth's revenue model is B2B enterprise-direct with no middlemen: quote-based contracts negotiated with grocery and restaurant chains across four regions, supplemented by HBC's one-time ingredient sales to dietary supplement manufacturers. The company reported LTM revenue of NOK 6,088 million and LTM EBITDA of NOK 600 million as of August 2025. Capital structure was substantially strengthened in 2025 via a NOK 1.0 billion senior unsecured bond (February), a EUR 300 million senior secured green bond (October), a NOK 1 billion RCF, and a NOK 158 million private placement into HBC, with a further NOK 600 million private placement contemplated for Q2 2026. Olav Holst-Dyrnes has been appointed incoming CEO effective Q3 2026, with founder Roger Hofseth transitioning to CCO to lead IceFresh commercialization and customer development.
Hofseth firmographics
Firmographics- Name
- Hofseth
- Legal name
- Hofseth International AS
- Website
- https://hofseth.no
- Company type
- Private
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hofseth International AS is a Norwegian vertically integrated salmon and trout company that farms, processes, and globally distributes seafood through wholly-owned subsidiaries to leading grocery and restaurant chains across Europe, North America, and Asia, differentiated by proprietary IceFresh thawing, Havliljen submersible cages, Egget closed containment systems, and Hofseth BioCare nutraceutical ingredients.
- Ownership category
- akta.pro rank
Hofseth industry classification
Industry- Product category
- Aquaculture and Seafood Processing
- NAICS
- Seafood Product Preparation and Packaging (31171), Fish and Seafood Merchant Wholesalers (42446)
- SIC
- Prepared Fresh Or Frozen Fish & Seafoods (2092)
- akta.pro primary industry
- Sushi/Sashimi-Grade & Raw Ready-to-Serve Seafood (Including Poke) (AFANALAI)
- akta.pro secondary industries
- Smoked, Cured & Salted Seafood (Lox, Kippers, Bacalao) (AFANADAF), Specialty Seafood Co-Products Processing (Roe, Milt, Heads, Frames, Shellfish Meat Recovery) (AFANAJAI)
Keywords
Where Hofseth is headquartered
LocationHeadquarters
- HQ city
- Ålesund
- HQ country
- Norway
- HQ region
- Europe
Offices12 records
Markets served
Hofseth business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Salmon and Trout Production and Sales: Hofseth farms approximately 16,000 tonnes of salmon and trout and processes ~50,000 tonnes, selling products globally through its own distribution companies and partners across the US, Europe, and Asia. Revenue exceeds NOK 5 billion. Products include sushi-grade salmon, fillets, portions, smoked salmon and trout, and ready-to-eat products sold to leading international grocery and restaurant chains.
- Hofseth Biocare (Nutraceutical Ingredients): Hofseth Biocare transforms fish processing by-products (off-cuts, heads, backbones, skin) into high-value human health ingredients including bioactive peptides, lipids, and collagen. These are sold to the dietary supplements and nutraceutical industries under the ProGo® brand. The company is listed on the stock exchange (since 2011) and has invested over NOK 1 billion in R&D.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | B2B enterprise pricing for seafood products |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels8 records
Hofseth product offering
Product offeringCore offering
Hofseth is a vertically integrated Norwegian seafood producer that farms approximately 16,000 tonnes of salmon and trout and processes around 50,000 tonnes, supplying fresh, frozen, smoked, and sushi-grade products directly to international grocery and restaurant chains across North America, Europe, and Asia. The group also operates Hofseth BioCare (HBC), which converts 100% of salmon side-streams into patented bioactive peptides, lipids, and collagen for the dietary supplements industry.
Product overview
Hofseth International is a vertically integrated Norwegian seafood company offering salmon and trout products across the entire value chain from smolt production to global sales. The product portfolio includes: (1) Fresh/frozen salmon and trout products (fillets, portions, smoked products) under the Hofseth brand, marketed as sushi-grade quality; (2) IceFresh technology platform for precision thawing enabling 'frozen-to-refreshed' distribution; (3) Hofseth BioCare (HBC) subsidiary producing ProGo Bioactive Peptides and other nutraceuticals from salmon side-streams; (4) Aquaculture technology including Egget closed systems and Havliljen submersible cages. Sales operations span Norway (headquarters in Ålesund), North America (Tennessee), Europe (Hamburg/France/UK), and Asia (Singapore/China/Thailand). Hofseth's competitive positioning combines traditional seafood products with proprietary food technology (IceFresh) and biotech ingredients (HBC), differentiated through sustainability credentials and full value chain control.
Differentiator
Problem solved
Functional benefit
Brands
- IceFresh: Proprietary thawing technology that enables constant and sustainable global supply of fresh, high-quality seafood using a frozen-to-refreshed model, reducing CO2 footprint by over 80%.
- HBC (Hofseth BioCare)
- Egget
- Havliljen
Products and services
- Sushi-Grade Salmon Premium salmon products meeting sushi-grade quality standards for raw consumption, produced for leading international grocery and restaurant chains.
- Atlantic Salmon Products Wide range of Atlantic salmon products including fillets, portions, and smoked products produced at Hofseth's factories in western Norway.
- Trout Products Rainbow trout products including fresh whole trout and retail portion programs produced from Hofseth's aquaculture operations.
- Hofseth BioCare (HBC) Nutraceutical Ingredients Biotech subsidiary that transforms salmon side-streams (head, backbone, skin) into high-value nutraceutical ingredients including bioactive peptides, lipids, and collagen for human health applications. Uses patented technology to convert 100% of fish into health ingredients.
- ProGo Bioactive Peptides Clinically proven bioactive peptides derived from salmon protein targeting metabolic health via GLP-1 and muscle protection pathways, sold as a branded ingredient to dietary supplement manufacturers.
- Smoked Salmon and Trout Products Smoked salmon and trout products produced at the Valderøy processing plant, including slicing and packing of ready-to-eat smoked products.
Quantifiable outcome
- CO2 emissions reduced by over 80% through frozen-to-refreshed model replacing air freight with sea freight
- +6 more outcomes
Companies that use Hofseth
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Hofseth technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Hofseth partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- Nekst AScoreHofseth holds 77% ownership of Nekst AS, the technology company behind Havliljen submersible cage. Nekst holds development licenses awarded by the Norwegian Directorate of Fisheries (May 14, 2020). Havliljen developed through Nekst.
- BAUTA MaritimecoreBAUTA Maritime, Hjørungavåg division, built the Havliljen submersible cage at Havila's shipyard. Founder and Production Manager John Arve Sundet described it as an incredibly exciting project involving between 20 and 30 companies.
- OvumcoreOvum is the design and engineering company behind the Egget closed containment system concept. CEO Cato Lyngøy expressed satisfaction with Hofseth commencing construction of the first full-scale Egget system. Ovum developed the pilot facility at Gjermundneset in Vestnes since 2023.
- BrimercoreBrimer is responsible for production of the closed containment systems. Components manufactured in Latvia, then assembled in the Sunnmøre region. Production Manager Henning Moltumyr leads the work.
- Norwegian Seafood CouncilminorVisit from Crown Prince Haakon Magnus was organized in collaboration with the Norwegian Seafood Council. Visit included preparation for the Crown Prince's upcoming trip to Japan to promote Norwegian seafood internationally.
- ProphylaxiaminorPartner in closed containment systems testing with Hofseth and Norsk Edelfisk. Presented learnings from several years of testing for closed containment systems at sea.
- Norsk EdelfiskminorPartner in closed containment systems testing with Hofseth and Prophylaxia. Contributed to learning presentations for Crown Prince visit.
- Lakseelvene på SunnmøreminorCollaboration since 2020 through 'More Salmon and Sea Trout in Sunnmøre' core project. Hofseth contributed more than NOK 10 million. Led by NORCE (Norwegian Research Centre), the project provides comprehensive overview of wild salmon and sea trout status in rivers and marine areas of Storfjord.
- NORCE (Norwegian Research Centre)minorLed the 'More Salmon and Sea Trout in Sunnmøre' core project since 2020, producing internationally recognized reports on wild salmon populations. Conducted fish population surveys, detailed river mapping, and research into factors limiting wild salmon and sea trout populations.
Scale indicators17 records
Recent moves6 records
Expansion highlights7 records
Hofseth competitors and assessment
Company assessmentDirect peers
- Cermaq Group AS: Global salmon farmer (Norway, Chile, Canada) owned by Mitsubishi. Comparable to Hofseth in salmonid farming and value-added processing; key competitor in Norwegian salmon supply.
- SalMar ASA: One of the world's largest Atlantic salmon producers with vertically integrated farming, processing, and global sales. Compares to Hofseth across salmon farming (open and submersible/closed systems), smolt production, processing, and direct B2B distribution. Connected via Kverva ownership.
- Mowi ASA: The world's largest Atlantic salmon farmer and a vertically integrated seafood company spanning farming, processing, and value-added products. Direct comparable to Hofseth across salmon production, smoked/value-added processing, global grocery/restaurant distribution, and R&D investment.
- Lerøy Seafood Group: Norwegian vertically integrated seafood group with salmon and trout farming, processing (including Havfisk whitefish), and global distribution. Closely comparable to Hofseth in salmonid focus, processing footprint, and B2B retail/restaurant channel strategy.
- Bakkafrost: Faroese vertically integrated salmon farmer and processor with premium positioning and value-added products. Comparable to Hofseth in large-scale salmon farming, premium processing, and global sales to retail/restaurant chains.
- Grieg Seafood ASA: Norwegian salmon farmer with operations in Norway, British Columbia, and Newfoundland, focused on premium farmed salmon. Comparable to Hofseth's Norwegian salmon farming model and B2B distribution to international markets.
Regional players
- Scottish Sea Farms: UK-based Atlantic salmon farmer (joint venture between SalMar and Lerøy) operating in Scotland. Comparable as a premium salmonid producer, but geographically separate from Hofseth's Norwegian operations.
Emerging players
- Atlantic Sapphire ASA: Land-based salmon (RAS) farmer with operations in Denmark and Florida. Compares to Hofseth via the closed-containment/alternative-farming narrative though operating in a different production paradigm (land-based vs Hofseth's closed-sea pens).
- Proximar Seafood AS: Norwegian-founded land-based (RAS) Atlantic salmon producer targeting the Japanese market. Comparable as a Norway-rooted salmon entrant exploring alternative production systems; thematic peer on closed-environment farming.
- AquaBounty Technologies: Aquaculture biotech company focused on land-based RAS salmon production with a genetically engineered fast-growing salmon line. Loosely comparable to Hofseth via the "next-generation aquaculture" theme and biotech angle adjacent to Hofseth BioCare.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Hofseth social profiles
Digital presenceHofseth compliance and trust
Trust signalCompliance6 records
Hofseth financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hofseth leadership team
Management profileNumber of profiles
Profiles10 records
Hofseth subsidiaries and ownership
Company hierarchySubsidiaries14 records
Hofseth funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hofseth M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hofseth
What does Hofseth do?
Hofseth is a vertically integrated Norwegian seafood producer that farms approximately 16,000 tonnes of salmon and trout and processes around 50,000 tonnes, supplying fresh, frozen, smoked, and sushi-grade products directly to international grocery and restaurant chains across North America, Europe, and Asia. The group also operates Hofseth BioCare (HBC), which converts 100% of salmon side-streams into patented bioactive peptides, lipids, and collagen for the dietary supplements industry.
Is Hofseth a public or private company?
Hofseth is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Hofseth founded?
Hofseth was founded in 2002. It employs 11 to 50 people.
Where is Hofseth based?
Hofseth is headquartered in Ålesund, Norway, in the Europe region.
How does Hofseth make money?
Two revenue lines are on record. Salmon and Trout Production and Sales are the primary driver. The others are hofseth Biocare (Nutraceutical Ingredients).
Who are Hofseth's main competitors?
Direct peers on record are Cermaq Group AS, SalMar ASA, Mowi ASA, Lerøy Seafood Group, Bakkafrost and Grieg Seafood ASA. Scottish Sea Farms is listed as a regional player. Emerging players are Atlantic Sapphire ASA, Proximar Seafood AS and AquaBounty Technologies.
Does Hofseth have an API?
No public API is recorded for Hofseth.
What industry is Hofseth in?
Hofseth's product category is Aquaculture and Seafood Processing. Its primary akta.pro industry code is AFANALAI, Sushi/Sashimi-Grade & Raw Ready-to-Serve Seafood (Including Poke), with a secondary code of AFANADAF, Smoked, Cured & Salted Seafood (Lox, Kippers, Bacalao). Its NAICS code is 31171 and its SIC code is 2092.