As we approach Christmas and the year draws to a close, Geir Olav Melingen, Head of Salmon Genetics and Health, reflects with gratitude on a successful and productive year. Thanks to the trust, collaboration, and unwavering dedication of our valued customers, business partners, and employees, we concluded the financial year 2024 on a strong and positive note.
This year has been a special year for us in Benchmark as we have gone through a strategic review of the company while running the business as usual. It’s been demanding for the organization, and I’m content we have delivered products and services in line with our high objectives of quality, biosecurity, and precise delivery.
In 2024, we launched an optimized product portfolio in the genetics business. SalmoPrime®, SalmoBoost®, and SalmoRobust® were designed to elevate the genetic potential for freshwater and seawater growth performance, high resistance to specific diseases, including IPN and CMS, and solid robustness in our customers’ typical farm environments.
Our organization has overcome some significant challenges within genetics production. ISA was detected on one single fish in Salten, and the staff made an amazing effort to handle the situation. The processes already established with zone compartments and biosecurity standards minimized the consequences for production, and we could deliver most orders as planned. The screening procedure we use is the strictest and most sensitive available to ensure that the facilities have the highest level of biosecurity. I am immensely proud of how we tackled this challenge from day one, having an open dialogue with our customers and ensuring they were continuously updated throughout the process.
In Chile, we had another year with good growth in ova deliveries to customers, and we are optimistic about the future development in this market. We have secured access to a new location in Chile, where we will set up our breeding production in 2025.
Iceland has been exposed to several volcano eruptions. Due to comprehensive contingency plans, Benchmark Genetics Iceland’s facilities are well prepared for any risks associated with volcanic activities, and we did not have any disruptions to our operations.
At Benchmark Animal Health, we decided to refocus on the core of the business, our strong and long-standing expertise in providing solutions for sea lice management. We paused all operational and commercial activity for CleanTreat® and Ectosan® Vet and developed new potential models for Ectosan® Vet operations to be implemented in collaboration with external partners in the future.
Overall, we are happy to have ended the strategic review with a positive outcome. Novo Holdings, a leading sustainable investment firm, has agreed to acquire Benchmark Genetics, marking an exciting new chapter. Novo’s commitment to innovation and sustainability underscores the immense potential of aquaculture genetics to transform the global food industry. The acquisition is expected to complete in Q1 2025 subject to normal regulatory approvals.
Benchmark Animal Health will continue to be part of Benchmark Holdings plc focusing on delivering sea lice solutions for customers globally. This will create a financially robust situation for Benchmark plc., giving opportunities to develop Benchmark Animal Health for the future. Medicinal treatments are an essential tool for the salmon industry, and we believe that CleanTreat®/Ectosan® Vet will play an important role in the future. Meanwhile, we see a growing demand for Salmosan® Vet and Purisan®.
Aleks Engel of Novo Holdings stated, “Genetics has immense potential to transform the global food industry, and we’re thrilled to take Benchmark Genetics to the next level.” Benchmark Genetics is renowned for innovations that improve aquaculture productivity, disease resistance, and sustainability. This acquisition underscores enhanced innovation in aquaculture genetics, a strengthened focus on environmental sustainability, and Benchmark Genetics’ positioning as a global aquaculture leader. The deal is set to close in Q1 2025, marking a transformative moment for the industry.
I am incredibly proud that such a reputable company has decided to invest in Benchmark Genetics, and I am very excited about the future of our business. We have a great opportunity ahead of us and look forward to continuing our journey of developing genetic improvement for the aquaculture industry to increase productivity, resilience, and sustainability.
We sincerely appreciate our customers, business partners, and employees’ continued support and commitment, which have been key to our success. In the spirit of the holiday season, we wish you joy, peace, and time with loved ones.
Here’s to even greater achievements in the New Year! Merry Christmas and Happy New Year!
Warm regards,
Geir Olav Melingen
