$50m for aquaculture, seafood firm

AUSTRALIA - A Western Australian businessman has launched a $50 million buy-up of aquaculture farms in South Australia.

Analysts say the creation of a major seafood company could lead to better prices and major export deals for oyster growers.

The company known as Aqafood has entered contracts to buy several oyster farms on the Eyre Peninsula and an atlantic salmon and ocean trout farming operation in the south-east.

Adelaide business broker Martin White says the venture could see more seafood being sold in untapped export markets.

Source: ABC Online