Tassal Group purchases De Costi Seafoods

Company News

Tassal Group Limited (ASX:TGR) has inked a deal to buy the De Costi Seafoods Business. 

The salmon farmer plans to secure the acquisition through an up-front payment of $50 million and a growth based earn out component. 

Chairman Allan McCallum says the De Costi Seafoods Business is one of the largest in Australia’s seafood industry and the acquisition has compelling strategic rationale.  

Mr McCallum has highlighted De Costi Seafoods' access to seafood, capability to process seafood, market leading expertise and central location to service retailers. 
Tassal Group reported a net profit of $30.2 million in the first half of the 2015 financial year.

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