Barramundi Group to sell 75 percent stake in its Australian operations & More Trending News


(*75*) deal will see Barramundi Group internet AUD1.6 million in money with an extra earn out cost of AUD3.4m to be disbursed upon the approval of no less than 4 of the 13 further seawater website leases in the Kimberley of Western Australia.

(*75*) settlement additionally consists of Barramundi Group acquiring possession of 34 percent of WOA’s shares, which permits the corporate to retain efficient fairness majority curiosity in MPA and acquire entry to all kinds of Australian seafood merchandise for its different markets.

This partnership secures Barramundi Group’s continued involvement in the event of the sooner introduced, Kimberley Ocean Barramundi Project, which goals for the numerous enlargement of MPA’s capability in the area throughout 13 seawater websites that can in the end enable the sustainable manufacturing of up to 30,000 tonnes yearly.

Wild Ocean operates a processing, value-adding, and distribution enterprise in Darwin, with excessive worth relationships throughout massive scale wild caught and aquaculture operators. It distributes wild caught fish to markets throughout Australia – Cairns, Brisbane, Sydney, Melbourne, and Perth; in addition to to retail operators throughout Northern Territories, together with Woolworths and Coles. WOA additionally has a chandelling enterprise with worldwide cruise traces and the Royal Australian Navy.

Wild Ocean additionally owns and operates the Darwin Fish Market retail outlet, which provides the complete vary of Australian solely seafood merchandise to the Greater Darwin area.

“At Wild Ocean, we are excited that through the acquisition into MPA, we can fully unlock the potential of Australia’s only ocean-grown barramundi. The new seawater site leases applied, and currently undergoing approvals, will allow us to showcase the premium quality of Cone Bay Ocean Grown Barramundi to more customers here and abroad. With Barramundi Group’s existing international customers and channels, our access to the finest Australian produce, processing expertise and bandwidth, topped off with Darwin’s strategic location for cost-effective distribution into Asia markets, the strategic nature of this partnership is compelling and formidable,” stated Frank Norton, director of WOA, in a press launch.

“Having had a protracted search for investors and a strategic Australian partner for MPA, we are happy to now enter into this arrangement with Wild Ocean. The structure of our relationship allows us to retain a meaningful presence and interest in Australia while at the same time, benefit from having a strong local Australian partner who will provide expertise, network and funding for the next phase of MPA’s growth. With our lease applications well underway, the future of sustainable, ocean-grown barramundi in Australia just got much brighter,” added Barramundi Group CEO Andreas von Scholten.

Barramundi Group to sell 75 percent stake in its Australian operations

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Barramundi Group to sell 75 percent stake in its Australian operations

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Barramundi Group to sell 75 percent stake in its Australian operations

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