Cooke Aquaculture eyes takeover of salmon farmers

Australia: Tassal Group, which also farms shrimp, recently rejected a $1.04 billion offer from family company Cooke Aquaculture.

Tasmanian salmon farmer Tassal, which is a target for Canadian group Cooke Aquaculture, has begun supplying fresh produce to Australian grocery giant Coles.

Tassal, which produces 40,000 tons of salmon in its financial year 2021, has variations of fresh salmon with and without skin, fillets in sauce, salmon patties and diced salmon.

Some products are in the skin and others in a pot ready to cook.

Last month, Tassal Group, which also farms shrimp, rejected a A$1.04bn bid from family company Cooke Aquaculture, which farms salmon in Canada, the United States, Scotland and Chile.

Tassal said the offer does not reflect the core value of its business and is not in the best interests of shareholders.

“The Company’s Board of Directors believes that Tassal has a strong independent future and is well positioned to generate growth in shareholder value,” said Tassal. “The Board of Directors and the management team remain focused on building the company’s long-term history and delivering on our business goals.”

Coles operates around 800 stores in Australia. Tassal products are also available through the Woolworths supermarket chain, which has more than 1,000 stores in Australia and New Zealand.

Leave a Comment

Your email address will not be published.