EPAX Acquired by Trygg Pharma

As part of the agreement between Trygg Pharma AS and Austevoll Seafood, Epax has entered into a long-term supply agreement with Austral S.A., a subsidiary of Austevoll Seafood.

Sep 6 2010 --- Trygg Pharma AS, a company jointly owned by Aker BioMarine ASA, a Norwegian biotechnology company, and Lindsay Goldberg, a New York-based investment fund, has acquired 100 percent of the shares in EPAX AS from Austevoll Seafood ASA. EPAX AS is a world-leading supplier of concentrated, marine-derived omega-3 formulas that target specific health conditions.

“EPAX is fortunate to get an owner that will invest significantly in people, products, processes, and technology in Ålesund,” said Bjørn Refsum, managing director of EPAX. “This ownership change will be a great benefit to our customers and ensure further progress in the field of omega-3.”

Refsum noted that throughout EPAX’s 170-year corporate history, ownership changes have naturally occurred and that the company’s experiences from these processes have always been positive.

“Trygg Pharma’s ownership will open up new opportunities and markets. Combining resources with such a highly regarded company that places major emphasis on research and development will benefit our customers, employees and partners and is making EPAX even stronger,” said Refsum.

As part of the agreement between Trygg Pharma AS and Austevoll Seafood, Epax has entered into a long-term supply agreement with Austral S.A., a subsidiary of Austevoll Seafood. The agreement will ensure continued cooperation between EPAX and Austral, and secure supply of the highest quality crude fish oil from sustainable and traceable sources.

Under its new ownership, EPAX will immediately invest significantly in expanding the capacity of the factory in Ålesund, Norway. “The planned capacity expansion means that our customers can rest assured that EPAX will be able to grow with them in the future,” said Refsum.