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SEA HARVEST ACQUISITION STRENGTHENED

South Africa - Sea Harvest Corporation has managed to secure control of Mareterram Limited, a vertically integrated agri-business listed on the Australian Stock Exchange.

 

Mareterram owns a fleet of 10 prawn trawlers and is the largest license holder in the Western Australian Shark Bay Prawn Managed Fishery, catching and processing wild caught King and Tiger Prawns. The Prawn fishery has also attained the coveted Marine Stewardship Council certification - the gold standard for sustainable fisheries. Mareterram employs 110 staff and has fishing operations in Carnarvon in Western Australia with distribution and sales offices in Perth, Adelaide, Melbourne, Brisbane and Sydney.

Sea Harvest will own an effective 56% of Mareterram, after shareholders accepted a bid from Sea Harvest totalling approximately R200 million.

Brimstone Investment Corporation recently increased their stake in Sea Harvest to 85% by buying out Kagiso Tiso Holdings

 

Sea Harvest was recently voted the No.7 Icon brand in South Africa.