Abalone products. (Photo: Ralph’s Tasmanian Seafood)
Australasia's largest abalone supplier emerges after two firms' merger
Friday, July 14, 2017, 23:40 (GMT + 9)
New Zealander firm PauaCo and Australian firm Ralph’s Tasmania Seafood Pty. Ltd announced that they will be merging on August 25, an operation that will lead to the creation of Australasia’s largest abalone processor and exporter.
The result of the merger is expected to be a boost for the abalone sector in the region, as PauaCo is a leading force in canned abalone and currently supplies retail and catering markets in Southeast Asia while the Tasmanian company Ralph can provide its expertise in live abalone export to mainland China.
“We are delighted to be able to announce this merger to the market”, said David Hogg, Chairman of PauaCo. “It marks the beginning of an incredibly exciting period of transformation for the abalone industry on both sides of the Tasman. At the very heart of this deal is better utilization of a wild resource and growth in the value of that resource for all of the stakeholders involved.”
For his part, Ralph Caccavo, Co-Founder of Ralph’s Tasmanian Seafood, welcomed the fact that they have found a business that shares their goals for the future of the industry and that together they can offer the best routes to markets for their suppliers and the best products for their customers.
The consolidation of the two businesses will lead to greater distribution access for live Paua exports from New Zealand whilst allowing the maximization of Australian abalone currently not able to be sold into the live markets.
The new combined entity will become the largest supplier of wild abalone in the world. The value that will be provided back to stakeholders in New Zealand and Australia should grow as a result of the merger.
Formed in 2012, PauaCo is the result of a consolidation of a number of smaller Pāua fishing and processing companies. It is privately owned by fishers and independent shareholders.
Ralph’s Tasmania Seafood was founded in 1996 and is located on the shores of North West Bay in Southern Tasmania. The company operates a modern fleet of temperature controlled vehicles and their own “mother boats”.