Cell Aquaculture acquires processor

Cell Aquaculture on Tuesday announced that it purchased the assets of an existing food processor and established a new facility in Osborne Park, Western Australia.

The acquisition includes the company’s customer base, product range and distribution network (including supermarkets, restaurants and caterers), providing Cell Aquaculture “instant cash flow” and a foundation to expand its product range and distribution network. Cell Aquaculture declined to name the company.

“This is a major step forward for Cell Aquaculture and represents the establishment of the final part of our vertically integrated ‘hatch-to-dispatch’ business model,” said Cell Aquaculture Chairman Perry Leach. “Having now successfully proven the hatchery, fabrication and grow-out parts of our business model, the areas of processing, branding and distribution of produce is a lucrative segment that we have spent many years researching.”

Cell Aquaculture, which farms finfish, primarily barramundi, is also eyeing “a potentially lucrative production opportunity” in Europe, though it declined to elaborate.

The company also signed on a local award-winning chef with more than 15 years of experience in food processing and new product development to serve as a spokesperson for its value-added and smoked barramundi products, which are marketed under the Eco-Star brand.

Last April, Cell Aquaculture signed a joint venture to establish a recirculating, land-based seafood production facility in South Africa. And last March, the company harvested its first batch of barramundi at its facility in Terengganu, Malaysia.

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