Canadian seafood company Cooke buys Australian producer

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L&rsquo ;Canadian seafood company Cooke buys Australian producer

Seafood company Cooke Aquaculture is buying Australian producer Tassal Group for C$1.5 billion. Above: A Cooke Aquaculture salmon farm in Blacks Harbour, New Brunswick (on file).

New Brunswick seafood giant Cooke announces it has completed an acquisition C$1.5 billion deal from Australian seafood producer Tassal Group.

Parent company Cooke Aquaculture says deal is biggest deal ever by the family business since its launch in 1985.

Cooke says it acquired all of Tassal's outstanding shares for A$5.23 per share following the x27;approval from Tassal shareholders and an Australian court.

Cooke's chairman and chief executive, Glenn Cooke, said the company was delighted to join the x27;Tasmania's aquaculture industry and to welcome Tassal's 1,700 employees.

This latest harvest 40,000 tonnes of Atlas salmon ntices per year in five marine farming areas with four land-based freshwater hatcheries and four processing facilities.

It also farms 5,500 tonnes of Australian tiger prawns sourced from two hatcheries, three pond farms and processing facilities.

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