Australian salmon producer Tassal is contemplating the acquisition of private seafood business De Costi.
This is in line with Tassal's strategy of increasing its product range from salmon to other seafood.
The company, which has witnessed 35% rise in first-half profit to $30.3m, has entered into talks with De Costi about the transaction.
However, the completion of the acquisition is not certain, reports The Australian.
Tassal chief executive Mark Ryan said: "Our focus on driving per capita consumption to maximise the opportunities in the domestic market is - and continues to be - the right strategy.
"Tassal's innovative marketing and promotional initiatives continue to build brand and drive sales in the core domestic wholesale and retail markets."
The growth in the company's revenue and earnings was driven by increased fish supply, better pricing, and efficiency improvements, according to The Sydney Morning Herald.
De Costi engages in the wholesale and retail of frozen seafood in Australia. The company supplies seafood to wholesalers, retailers, restaurants, caterers, supermarkets, clubs, bistros, and hotels.
Image: Tassal processes and sells Atlantic salmon in Australia. Photo: courtesy of amenic181 / freedigitalphotos.
