Norwegian company buys halibut hatchery in Victoria, P.E.I.

·2 min read
The facility was bought directly from the receiver, Amar Group says, after Halibut P.E.I. went bankrupt. (Tony Davis/CBC - image credit)
The facility was bought directly from the receiver, Amar Group says, after Halibut P.E.I. went bankrupt. (Tony Davis/CBC - image credit)

Halibut P.E.I., a fish hatchery and grow-out facility in Victoria, P.E.I., has been purchased by Norway's Amar Group after declaring bankruptcy earlier this year.

The company plans to grow halibut and Atlantic wolffish in the area.

Halibut P.E.I. went bankrupt in January. At the time it owed $9.5 million to creditors, including the provincial government.

Knut Arne Trellevik, president of Amar Group in Canada, says he needs about 30 employees to get the facility back up and running.

[P.E.I. is] the perfect place to grow the fish, because we can get whatever we need. — Knut Arne Trellevik

"When the company went to receivership, it was a lot of good people who left because it was unsecured," he said.

"We are searching for the people who already know the fish, know the farm, and we are going to employ some of the people if they want to come back."

Trellevik said Amar Group wants to get the business operational as soon as possible and expand the fish farm, which would include a visitor area so people can see how the facility is run.

P.E.I. a 'perfect place' for this operation

Trellevik didn't say how much Amar Group paid to purchase the facility, but did say the fish farm was bought through the receiver directly.

CBC
CBC

There is no provincial or federal money involved in the purchase, he said.

Trellevik said there is a "huge market" for Atlantic halibut and wolffish, adding that Prince Edward Island is perfect for this type of operation.

"It's the perfect place to grow the fish, because we can get whatever we need," he said.

"We can get a veterinarian, we can get a scientist to see what we're doing to see if we're on the right track."

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting