Australia: Cooke Seafood increases purchase proposal for Tassal

Privately-owned Cooke Inc. (‘Cooke’), parent company of Cooke Aquaculture Inc. has upped its stake proposal to purchase the Tasmanian salmon farmer Tassal Group Limited.

Tassal is a vertically integrated salmon and prawn grower and processor for the Australian domestic markets and for exportations, employing over 1,700 people.

Cooke Inc. has Atlantic salmon farming operations in Atlantic Canada, the US, Chile, and Scotland; seabass and seabream farming operations in Spain; seafood and wild fishery divisions in North and South America; and one of the largest premium shrimp farms in Latin America, registering sales of circa $2.4 billion CAD.

According to sources, Cooke presented its third non-binding indicative proposal to Tassal for its total share acquisition under friendly agreement conditions, proposing a value of A$4.85 ($3.33) per share. This proposal follows previous ones, submitted in May 2022 for A$4.67 ($3.26) per share and in June 2022 for A$4.80 ($3.30) per share.

Source: Cooke Sea Food