Port Lincoln, Australia-based vertically integrated shellfish producer Yumbah Aquaculture is making progress in its attempt to acquire Eyre Peninsula, Australia-based aquaculture company Clean Seas.
Business News Australia has reported that the deal is worth AUS 28.1 million (USD 17.1 million, EUR 16.2 million).
Clean Seas' voted to move forward with the deal in February 2025. Then on 31 March, the company announced that it had entered a Scheme Implementation Deed (SID) wherein Yumbah would acquire all shares in the company for AUS .14 (USD .09, EUR .08) per share.
“The merger of Clean Seas and Yumbah represents a strategic alignment that enhances operational capabilities, market reach and long-term growth potential," Clean Seas Board Member Katelyn Adams said. "By combining expertise in aquaculture and sustainable seafood production, the combined entity will be well-positioned as a leading provider in Australia’s aquaculture industry.”
The two companies already have strong ties; Yumbah Director Anthony Hall is the largest shareholder in both companies, while Clean Seas Director Gary Higgins serves as director and chairman of the board at Yumbah.
