Yokorei reorganizes Hofseth subsidiaries in Norway

Japanese cold-storage, logistics, and frozen-food company Yokohama Reito (Yokorei) is reorganizing its Norwegian subsidiaries so that they are not majority foreign-owned, as Norway enacts stricter rules about granting aquaculture sites to foreign companies. The Yokohama-based company established itself in Norway through a business alliance that included capital participation with Ålesund, Norway-based salmon processor Hofseth International AS in 2015. This gave it a steady supply of Norwegian…