Hofseth

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.

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

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

• Salmon farming
• Trout processing
• Seafood distribution
• Aquaculture technology
• Nutraceutical ingredients

Headquarters

HQ city

Ålesund

HQ country

Norway

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. 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.
2. 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

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core 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

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Nekst AScoreStrategic or Co-development Partner · 2 March 2026Hofseth 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 MaritimecoreStrategic or Co-development Partner · 2 March 2026BAUTA 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.
• OvumcoreTechnology or Integration · 16 December 2025Ovum 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.
• BrimercoreStrategic or Co-development Partner · 16 December 2025Brimer 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 CouncilminorStrategic or Co-development Partner · 13 April 2025Visit 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.
• ProphylaxiaminorStrategic or Co-development Partner · 13 April 2025Partner in closed containment systems testing with Hofseth and Norsk Edelfisk. Presented learnings from several years of testing for closed containment systems at sea.
• Norsk EdelfiskminorStrategic or Co-development Partner · 13 April 2025Partner in closed containment systems testing with Hofseth and Prophylaxia. Contributed to learning presentations for Crown Prince visit.
• Lakseelvene på SunnmøreminorStrategic or Co-development Partner · 1 January 2020Collaboration 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)minorStrategic or Co-development Partner · 1 January 2020Led 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

Direct 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

• Facebookfacebook.com/hofseth.international
• LinkedInlinkedin.com/company/hofseth-international-as
• Instagraminstagram.com/hofseth_

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hofseth