Ralph’s Tasmania Seafood merging with PauaCo to become the largest supplier of wild abalone in the world
Ralph’s Tasmania Seafood and New Zealand-based company PauaCo are officially joining forces next month on 25 August in a merger that will result in the creation of Australasia’s largest abalone processing and exporting unit.
A leading canner of abalone, PauaCo currently supplies retailers and markets in South East Asia, while Ralph’s Tasmania Seafood specializes in live abalone exports to mainland China. Both companies hope the merger will result in the better utilization of wild abalone resources in New Zealand and Australia. The consolation of the firms is expected to facilitate greater distribution access for live Paua exports from New Zealand and to maximize Australian abalone currently not sold into the live markets.
“We are delighted to be able to announce this merger to the market,” PauaCo Chairman David Hogg said. “It marks the beginning of an incredibly exciting period of transformation for the abalone industry on both sides of the Tasman. At the very heart of this deal is better utilization of a wild resource and growth in the value of that resource for all of the stakeholders involved.”
“I am very happy to be joining forces with PauaCo,” added Ralph Caccavo, co-founder of Ralph’s Tasmanian Seafood. “We have found a business that shares our goals for the future of the industry and together we can offer the best routes to markets for our suppliers and the best products for our customers.”