De Costi Acquisition Key to Building Tassal's Dominance in Domestic Market
SEAFOODNEWS.COM [Australian Business News] By Ralph Wragg - July 1, 2015 -
Sydney, Tassal Group Ltd has acquired the De Costi Seafoods business to build its domestic salmon capabilities and increase its vertical integration in salmon.
An up-front payment of $50 million will be paid while a growth based earn-out component will be paid in shares.
CEO Mark Ryan said: “Having last year completed the substantial $200 million five year investment programme covering our hatching, growing and processing infrastructure, the benefits from that investment are now flowing through.
“This has allowed Tassal to successfully focus on the domestic market...
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