Premier Fishing & Brands — which nets most of its profits from lobster and squid catches — has its hooks baited for new acquisitions. Speaking at the release of its year to end-August financial results on Tuesday, Premier CEO Samir Saban said local and international deals — that fitted the group’s growth strategy — were being pursued. “Watch out for announcements very shortly”.

Talk around the Cape Town docks is that Premier is set to clinch an offshore acquisition shortly — possibly an operation based in the US. Premier is still sitting on a cash pile of R350m after the acquisition of 50% of the Talhado squid business in May and further capital expenditure on capacity at its Gansbaai abalone farm. Asked whether Premier would — like rival fishing business Sea Harvest, which recently acquired the Ladismith dairy brands business — make acquisitions outside the seafood sector, Saban said the group would keep an open mind. “We might look at other avenues. But first we would like t...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.