Canadian seafood giant Cooke has acquired Australian seafood producer Tassal Group for $1.7 billion in the New Brunswick-based company’s largest investment since its inception in 1985.
“We are thrilled to be joining the Tasmanian aquaculture industry and look forward to welcoming Tassal’s 1700 employees to the Cooke family of companies,” said Glenn Cooke, CEO at Cooke.
Tassal is one of the country’s largest vertically integrated seafood producers, with operations stretching from Southern Tasmania to northern Queensland. It distributes prawns, salmon, and other seafood locally and internationally.
The company collects 40,000 tonnes of Atlantic salmon annually in five marine farming zones, four freshwater hatcheries and four processing facilities. It also produces 5500 tonnes of Australian Black Tiger Prawns, raised in two hatcheries, three pond farms, and processing facilities.
Tassal CEO Mark Ryan says Cooke’s core purpose aligns perfectly with the company’s vision of producing seafood responsibly.
“Whether we are farming prawns on land or salmon in the sea, our commitment is to be a responsible business respecting our people, the environment and the communities we operate,” said Ryan.
“We’re looking forward to becoming part of the Cooke family of companies and sharing what our industry offers.”
Cooke has subsidiaries in Latin America, Scotland, Spain, the Netherlands, Uruguay, the US, Chile, and Western Europe.
