Premier Fishing looks to make acquisitions, possibly even outside seafood sector
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 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...