Australian firm acquires Global Trust
SAI Global Ltd. on Tuesday announced that it agreed to acquire a 100 percent interest in Global Trust Certification Ltd., an Ireland-based fisheries certification body.
The deal is valued at EUR 2.9 million, plus an adjustment for working capital. An additional payment of EUR 1 million may become payable after 12 months if agreed performance goals have been met.
The Sydney, Australia-based company said it has been looking to expand its certification, inspection and training capabilities in the agri-food business. With the purchase of Global Trust, SAI Global is now “strongly positioned to meet the opportunities that arise from the increasing focus on sustainable fishing around the world,” said SAI Global CEO Tony Scotton.
Peter Marshall, managing director of Global Trust, said he and his team are “delighted” to join SAI Global. The acquisition will allow Global Trust expand its services and capitalize on SAI Global’s expertise and business management support, he said.