Sea Harvest, a JSE-listed seafood and aquaculture company, has finalized its US$ 52 million acquisition of several subsidiaries belonging to Terrasan. Announced initially in January, the acquisition, valued at R965 million, includes Sea Harvest taking over Terrasan’s Aqunion, Saldanha Sales and Marketing, and West Point Fishing operations. The Competition Tribunal has conditionally approved the transaction, particularly addressing concerns about employment and the potential exchange of competitively sensitive information. Sea Harvest’s subsidiaries will now handle the catching, processing, and selling of pelagic fish, as well as the farming, processing, and selling of abalone under the acquired Terrasan units. Sea Harvest is known for its fishing operations in South Africa and Australia and for sustainably farming and marketing abalone.

Seafood and Aquaculture, Commercial Fishing,South Africa, Australia