January 31, 2020
Rich taste of salmon on Sealord balance sheet
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Sealord chair Whaimutu Dewes says there is room for growth in Tasmanian salmon farmer Petuna.
Sealord, which is a joint venture between Māori and Japanese company Nissui, yesterday announced it had bought the remaining 50 percent of shares in Petuna shares after a 10-year partnership.
Mr Dewes says founders Peter and Una Rockliff are in their 80s and told the company late last year they were ready to sell.
It’s the third of the three largest Tasmanian salmon and ocean trout farmers.
“Petuna sells about $100 million in a good year. As an income stream to Sealord, it’s always been important but now we get to see the whole lot. It’s not all profit, but it’s a big one in the Australian (market). Size is not the issue here. We need to get to a sustainable level so we want to grow and we are confident with the people we have there we can get those opportunities realised,” Mr Dewes says.
Whaimutu Dewes.
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