Aquaculture company Troutlodge of Bonney Lake has announced signing a memorandum of understanding with Landcatch of Scotland to build a joint venture aimed at extending a mutual global share of Atlantic salmon and rainbow trout markets.
Under the agreement, Landcatch, which provides salmon smolt and eggs, will become a 45 percent shareholder in Troutlodge, which is the world’s largest producer of rainbow trout eggs.
A sale price was not announced in a news release Thursday.
The deal, according to the release, includes the formation of a new company, Landcatch-Troutlodge Chile SA, which will establish an independent salmon breeding program.
Also, the current Troutlodge Chilean operation will be expanded under the agreement, while a Genetics Support Agreement will “ensure all Troutlodge breeding programs will be supported by Landcatch and Hendrix Genetics.”
Steve Brown, Troutlodge CEO, stated, “The collaboration with Landcatch and Hendrix Genetics enhances our ability to feed the world with healthy fish.”
Troutlodge, which operates 15 hatcheries in the U.S., Chile and Isle of Man, employs over 110 workers worldwide and was established nearly 70 years ago, according to the release.