Sea Harvest expands business in Australia with Mareterram deal
Shrimp processing. (Photo: Mareterram)
(SOUTH AFRICA, 8/11/2016)
Hake fishing company Sea Harvest Corporation has gained control of the Australian agribusiness Mareterram after acquiring 56 per cent of the firm with the aim of achieving global expansion.
The deal to increase its stake in the firm that catches and processes king and tiger prawn out of Western Australia and operates a sales and marketing arm, mainly for seafood follows a transaction in which Brimstone increased its stake in Sea Harvest to 85 per cent, BDLive reported.
"We are excited about our controlling stake in Mareterram as their strategy is very closely aligned with Sea Harvest's strategy of becoming a global vertically integrated agri-business," commented Sea Harvest CEO Felix Ratheb.
For his part, Brimstone chairman Fred Robertson...