An Australian company known for its environmentally-friendly flooring products has bought up Australian seafood company Nor-West Seafoods for AUD 20 million, according to local media reports.
Style Limited announced the purchase this week, the company’s first move into the seafood industry sector. The company will pay AUD 18 million in cash, and the rest will be covered by issuing 10 million Style shares.
The purchase will include Nor-West’s 10 fishing vessels and related assets. Nor-West is the largest single operator in Australia’s shark bay prawn managed fishery, holding 10 of the fishery’s 18 licenses.
