Sea Harvest Group is to acquire the fishing and related businesses of Western Australia-based MG Kailis and its subsidiaries for AUS$70 million.
The acquisition assets will be held in Sea Harvest Marine, which is a newly registered wholly owned subsidiary of Sea Harvest Australia.
With more than 50 years’ experience, MG Kailis is a vertically integrated prawn and fish trawling, seafood trading and engineering business whose acquisition will complement Sea Harvest’s operations, helping it grow its international business in high value seafood.
The acquisition assets include vessels, licences and fishing rights for prawns in the Exmouth region and trawled fish in the Pilbara region in Western Australia, providing Sea Harvest with further security of supply and diversification of product.
The deal is expected to complete on 1 April 2022.
