Benchmark Holdings signs 10-year deal with salmon producer

A subsidiary of Benchmark Holdings’ breeding and genetics division, SalmoBreed, has signed a ten-year agreement with one of the world’s top three salmon producers for the supply of the SalmoBreed genetic stem into its production sites.

The agreement with Leroy Aakvik Roe and Stamfisk will see the company begin to breed with SalmoBreed’s genetic lines, producing SalmoBreed strain ova for sale to companies within the Leroy Group.

Benchmark said that while the deal will not have a material impact on its finances in the short term, it is strategically important for the company’s position in the market.

Chief executive officer Malcolm Pye said: “We are very pleased to have reached this agreement with such a prominent player in the space, which is testament to the great work being done at SalmoBreed and in our Breeding & Genetics division as a whole.

“The opportunity to collaborate with Leroy and have SalmoBreed's genetic lines distributed to its group establishes SalmoBreed's position as an industry leader."

At 1412 BST, Benchmark shares were up 8.5% to 54.25p.