Brisbane-based fish company Sam’s Seafood has acquired scallop processor and exporter Enterprise Fisheries for A$2.3m (US$1.5m).
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The cash and share deal is expected to be finalised on 31 December.
Sam’s Seafood chairman Grahame Denovan said the deal offered access to wholesale purchasing opportunities, retail brand longevity and entry to new foreign markets.
Sam’s Seafood expects to generate revenues of A$7m from Enterprise Fisheries, which has well-recognised brands in Hong Kong and Singapore, reported Asia Pulse.
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By GlobalData
