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L'Aquaculture Tunisienne produces 1,500 tons of fish per year.

SOKOTRA Capital Ltd. Led Consortium Acquires 100% of L'Aquaculture Tunisienne

  (UNITED ARAB EMIRATES, 8/6/2018)

SOKOTRA Capital Ltd. ("SOKOTRA Capital"), a Dubai-based private investment company specializing in the agriculture and aquaculture sectors, has announced that a SOKOTRA Capital led consortium has just completed the acquisition of 100% of L'Aquaculture Tunisienne  (AT), one of the oldest and most established companies in the aquaculture sector in North Africa and the Mediterranean basin.

 L'Aquaculture Tunisienne fish farm.

Founded in 1988 by Si M'hamed Driss, AT is the largest seabass and seabream hatchery and nursery in North Africa, with a current annual production capacity of 20 million fingerlings and 1,500 tons of fish per year, mainly seabass and seabream. AT has successfully served the local and export markets for seabass and seabream over the past 30 years and has an established reputation for delivering high quality fingerlings, backed by a skilled and dedicated management and operational team.

The Aquaculture Tunisienne is well-known for the quality and freshness of its products as well as its ability to regularly meet fish markets needs.

With this acquisition, SOKOTRA Capital is reiterating its investment strategy focused on the highly promising agriculture and aquaculture sectors through the building of a portfolio of investments in these sectors, both in Africa and in South East Asia.

Albert Momdjian, Founder and CEO of SOKOTRA Capital said, "We are extremely pleased with this acquisition. AT has a highly skilled team with extensive experience. Tunisia remains, and despite the recent challenges, a very attractive and friendly destination for foreign direct investments. We sincerely hope that this will be the start of a significant expansion for us, and for other investment firms, in Tunisia. We have very ambitious plans for AT and we hope to better service the local market in terms of fingerlings, but also to better position AT as a highly reliable producer of quality fingerlings to the rest of North Africa as well as, in due course, to the Mediterranean basin."

L'Aquaculture Tunisienne specialized in the reproduction, cultivation and marketing of sea bass, or bar (Dicentharchus labrax) and sea bream (Sparus auratus).

"The agriculture and aquaculture sectors are of great importance to SOKOTRA Capital Ltd. It is all about efficiency and about feeding the growing population. The protein race has already started and we are very well positioned as a firm and as a team to benefit from it," added Albert Momdjian.

Karim Garnaoui, CEO of AT said: "Today, and backed by the new investors, AT has the capacity to become one of the leading Mediterranean basin aquaculture companies. The in-depth knowledge of the industry, supported by the strong financial and strategic capabilities of the new investors, can only propel AT to become one of the best companies in the sector. This transaction has been successfully completed thanks to the professionalism, support and commitment of the SOKOTRA Capital team who have demonstrated on numerous occasions their technical and operational expertise in restructuring the company."

AT has successfully served the local and export markets for seabass and seabream over the past 30 years

"We are very pleased to pass the helm of AT to the SOKOTRA Capital led consortium and we do strongly believe in their capabilities to complete and further develop the vision of Si M'hamed Driss," stated Meriem Driss, one of the selling shareholders representatives.

About Aquaculture Tunisienne

Founded in 1988 by M’hamed Driss, L'Aquaculture Tunisienne, is a pioneering fish farm in Tunisia specialized in the reproduction, cultivation and marketing of sea bass, or bar (Dicentharchus labrax) and sea bream (Sparus auratus).

The Aquaculture Tunisienne is well-known for the quality and freshness of its products as well as its ability to regularly meet fish markets needs.

L'Aquaculture Tunisienne has become a leading Mediterranean basin aquaculture company.

About SOKOTRA

SOKOTRA is a private investment company focused on direct investment opportunities in frontier markets. SOKOTRA Capital benefits from a unique business model built on five pillars of strength.

SOKOTRA Capital seeks investment opportunities in high growth, frontier markets, namely Africa (initially East Africa), Emerging Asia (with a focus on Mongolia and Vietnam). Additionally, SOKOTRA Capital is closely monitoring the developments in Iran as they unfold and will explore potential opportunities in the country if, and when, the current sanctions are eased and the market opens up to foreign investment.

SOKOTRA Capital focuses on investments in key sectors that will benefit the most from the growth afforded by its focus markets. These sectors are: Agriculture & Aquaculture, Food: Manufacturing, Processing & Retail and Hospitality & Non-Food Retail.

In addition, a key element of SOKOTRA Capital's post-acquisition strategy is to capitalize on our network by expanding the operations of its investments within the region through select partnerships in each of its focus markets.

Source: SOKOTRA

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Information of the company:
Address: Halk El Menjel, Km. 17
City: Sousse
State/ZIP: (4042)
Country: Tunisia
Phone: +216 73 248 188
Fax: +216 73 248 187
E-Mail: [email protected]
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