It's possible they won't report much at all.". Product Order Queries. Such forbearance could become a thing of the past as Huon changes hands from its local founders Frances and Peter Bender to its new Brazilian owners. ", In a statement ASX revealed Huon Aquaculture Group delivered a loss of just over $95 million in the six months to 31 December last year. Beginning at our fish hatcheries, and seen all the way through to our state-of-the-art processing facility, our products are the result of our meticulous attention to detail and commitment to quality. Huon Aquaculture Group Limited (ASX: HUO) ("Company", "Huon") announces it has entered into a Scheme Implementation Deed with an Australian subsidiary of JBS S.A. ("JBS") under which it is proposed that JBS will acquire 100% of Huon for a cash consideration of $3.85 per share ("Scheme Price") by way of a scheme of arrangement ("Scheme of Arrange. Whilst Huon's online store is closing, we've been working closely with local seafood wholesalers and retailers nationally, to expand our supply of fresh and artisan salmon products. There had been speculation that mining magnate Andrew "Twiggy" Forrest could launch a counter-offer, after his investment vehicle, Tattarang, upped its stake in Huon in August to 18.51 per cent, becoming the second-largest shareholder behind JBS. Videos from Huon Aquaculture, Sassafras TAS, Australia - Farm Huon Aquaculture Group Pty Ltd has proposed an increase in production capacity at its Parramatta Creek fish processing facility located at 7216 Bass Highway in Sassafras. "Brazilian meat giant JBS flags further aquaculture investment following Huon purchase", "Huon Aquaculture Convicted of Environmental Breaches", "Tasmanian farmed fish giant Huon takes first step into WA market", https://en.wikipedia.org/w/index.php?title=Huon_Aquaculture&oldid=1159400498, This page was last edited on 10 June 2023, at 02:50. Daly. Listed peer and bitter rival Tassal is the markets ninth most shorted stock, though short positions have eased since March, according to shortman.com.au. Whether its recipe inspiration, finding out where your local Huon Salmon stockist is or buying online were here to make it easy for you to enjoy our range of delicious products. Tasmania's salmon farmer Huon Aquaculture being pursued by Brazilian The uncertainties around whether FIRB will be comfortable with JBS character assessment and a lack of clarity around the timing of any decision are among the factors creating a potential opportunity for one of Huons underbidders, Canadas Cooke Seafood. The company's statement following the shareholder vote confirmed as much. [2] In any case, there's growing doubt any more areas will be opened up within Tasmania's waters for further salmon-farming developments. Activists are only interested in the facilities where the animals are kept; farmers do not live inside their sheds amongst the battery cages or sow stalls. Tasmanian salmon giant Huon Aquaculture is set to sell to a Brazilianmeat processing company for almost half a billion dollars. Brazil meat giant JBS gets Foreign Investment Review Board tick for Enter before September 29th for your chance to WIN a Tasmanian getaway for you and a friend. Fried Huon Salmon Tacos, Avocado and Tomatillo Dressing . Acquiring Huon's stocks will mark JBS's move into aquaculture, but it's the Brazilian multinational's second operation in Tasmania, with the company owning a beef cattle processing unit at Longford. Formerly known as Aussie Farms. Despite early speculation that Forrest might make a full bid for the group, thats now considered unlikely. The Benders have a controlling 53 per cent stake in the company, which is the second largest of the three salmon producers in the state, founded in 1986. We are proud of our ethical farming practices which are driven by a clear vision of the future. Doesn't this map just identify the homes of farmers and their families, and encourage harrassment towards them by animal activists? Ukraine receives cluster munitions, pledges limited use as Russia threatens to use similar banned weaponry, 'It's very disturbing to me': Why Hollywood CEOs are outraged actors and writers have walked off the job. Huon Aquaculture Employee Reviews in Mount Barker SA - Indeed Those in the industry believe it also foreshadows a more aggressive push by Huon into the global marketplace as JBS seeks to exploit notions that Tasmanian salmon is clean and green. Thousands of companies use Panjiva to research suppliers and . Posted on May 4, 2020. And whats occurring around the Huon takeover is likely the most aggressive example of it to date, except for JBS acquisition of Riverlea Pork, also still awaiting approval from regulators including FIRB and the Australian Competition and Consumer Commission. In a separate release, the SEC stated that the brothers and their companies agreed to pay nearly $US27 million to resolve charges arising out of an extensive bribery scheme that took place over multiple years. According to the United Nations, the share of aquaculture in global fish production went from 25.7 per cent in 2000 to 46 per cent in 2018. JBS reels in $550m deal to acquire Huon Aquaculture Targa suspends 'all future events' due to sweeping rule changes made after race deaths, 20 years ago scientists discovered by chance that ketamine could help depression. Huon has said it is under pressure after COVID-19 hit demand for salmon, prompting a 12 per cent fall in the average international salmon price in 2020 alongside a steep increase in freight charges. But perhaps a bigger risk lies in the growing maturity that made Huon such an attractive target in the first place. Its a position that will only boost his green credentials in Tasmania, where Fortescue Metals Group is seeking to build a green ammonia plant in Bell Bay. All rights reserved. Our years of experience has taught us a great deal about sustainability and our engagement with the environment. Follow the topics, people and companies that matter to you. Will your favourite TV show be impacted? Often this is because it can be impossible to differentiate between broiler, egg, duck, turkey, quail, or pig sheds without further information, although generally piggeries have uniquely defining characteristics. Excludes Public Holidays, * Dont worry. Will your favourite TV show be impacted? JBS is valued at about $16 billion dollars. At the very least, they deserve the opportunity to make an informed decision, to see more than the image presented to them by the animal agriculture industry, of happy animals frolicking in the sunshine before willingly surrendering their lives. That two corporate heavyweights would battle it out for an Australian salmon farmer says much about the scale Huon has achieved and the commercial opportunities seemingly available in aquaculture. Salmon companies report nearly 70 instances of increased fish deaths, 'Not clean, not green, not even healthy': Author slams salmon farming, Huon Aquaculture's revenue grew, but the salmon grower still took a hit due to COVID-19, Andrew Forrest buys stake in Tasmanian salmon giant Huon Aquaculture, Officials trying to capture 'very bold' sea otter that's been wrestling surfboards off surfers. Huon Aquaculture, Sassafras TAS, Australia - Farm Transparency Project | Australian animal protection charity Facilities Huon Aquaculture, Sassafras TAS Overview Photos (0) Videos (0) Documents (0) Materials (0) News (0) Huon Aquaculture Sassafras TAS 7307, Australia Open in map Submit information Photos (0) View all Upload This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Shadforth's financial advisor Sam Baker said the takeover would see JBS absorb Huon Aquaculture's debt. In a release, JBS said the deal has been approved by the controlling shareholders and take over is expected to be concluded by the end of this year, with the approval of the other shareholders and the Australian Foreign Investment Review Board. JBS Set to Acquire Huon Aquaculture - Tasmanian Times Huon's board of directors said the buyout was in shareholders' best interests, and has recommended they vote in favour of the deal. A statement to the ASX on Monday saidthe Foreign Investment Review Board had no objection to the acquisition. For corporate/operational queries only Gaming FIRB and other regulators is an M&A tactic that is on the rise, driven by FIRBs increasingly political stance and its opaque process. If your property has been incorrectly identified as a farm or other type of animal exploitation facility, please let us know using the 'Submit Information' button after clicking on that property's marker. Bloomberg. "Irrespective of the outcome of the 75 per cent vote, Huon will effectively be taken over and control will go to JBS," Mr Baker said. In its quest for size and clout, the industry has come in for greater attention from a public that is increasingly intolerant of environmental or social transgressions by companies. For JBS, which is best known in Australia for its cattle operations, the acquisition comes as it also seeks regulatory approval to buy Australian pork business Rivalea. While that might lead some to draw analogies with square pegs and round holes, industry observers note that JBS is less a meat processor than a protein manager. Meat giant JBS has agreed a $3.85 a share deal to buy Australian salmon farmer Huon Aquaculture. "He owns 7 per cent and he certainly has the financial capacity. Key points: Brazilian meat processing company JBS is chasing full control of the Tasmanian salmon farmer Huon's directors recommend shareholders vote in favour of JBS acquiring 100 per cent of its shares A sale would mean financial reporting for Huon would switch from the ASX to Brazilian authorities, a financial advisor says In 2014, concerns that US company Archer Daniels Midlands was not of good character was among the reasons for FIRBs decision to knock back its takeover bid for GrainCorp. PO Box 42 In 2020, Huon Aquaculture was convicted of environmental breaches in regard to its operations at Whale Point and fined $40,000. Will your favourite TV show be impacted? Fax: (03) 6295 8151 What is the web address (URL) for Huon Aquaculture The website for Huon Aquaculture is . Mr Baker said the takeover would help provide certainty for Huon's 800 staff. The public consultation period has now closed. Phone: 1800 651 409 Email: customerservice@huonaqua.com.au, Hideaway Bay: Located at 1007 Esperance Coast Road AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/huon-aquaculture-sale-to-jbs-meats-recommended/100358262, Help keep family & friends informed by sharing this article, Is Michele Bullock the right choice as RBA governor? Huon Aquaculture, Sassafras TAS, Australia - Farm Transparency Project However, it was a novice in the seafood space. Below the surface in the battle for Huon Huon Aquaculture's Frances and Peter Bender together own about a 66 per cent stake in the company. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Street Talk. Huon's Helping Hand Community Grants - Huon Aquaculture This map, linked with the Farm Transparency Project Repository, is an effort to force transparency on an industry dependent on secrecy. "We will uphold the highest standards for superior quality, fish health and sustainable farming practices from water management to animal welfareand stock densities.". What's more, big-four consultancy Deloitte noted in a report that limited agriculture land and a slowdown in the productivity gains of recent years meant conventional farming would struggle to keep pace with demand for protein. Environmental group Tasmanian Alliance for Marine Protection (TAMP), hassaid it opposes the deal and that Tasmanians should feel "sickened". Australia mourned the death of one platypus how can we save the entire species? There is a view that as a homegrown commercial success story, Tasmanian salmon producers Huon and Tassal have been able to avoid the kind of scrutiny that generally accompanies intensive industry. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/huon-aquaculture-salmon-takeover-jbs-firb-approved/100566938, Help keep family & friends informed by sharing this article, Is Michele Bullock the right choice as RBA governor? See documents captured at or relating to Huon Aquaculture, a fish or marine life farm, at Unnamed Road, Sassafras TAS 7307, Australia. Find company research, competitor information, contact details & financial data for HUON AQUACULTURE COMPANY PTY LTD of Sassafras, TASMANIA. feed silos found at all factory farms, animal loading ramps, sheds matching the typical build of poultry/egg/pig farms, waste lagoons common to piggeries, etc) likely to be animal agriculture facilities, but until information is found or received confirming them to be a specific type of facility, they are not marked as such. They also suggest this foray by JBS is unlikely to be its last in Australian aquaculture. Huon Aquaculture : Annual Report 2021 - MarketScreener.com Help using this website - Accessibility statement, JBS Australia prepares for 1500 Brazilians, Canadian suitor lands Tassal with $1.1b offer. But the reality is far more complex. Pene Snashall, the corporate communications and community relations manager at Huon Aquaculture, said she was confident that the escaped fish would not cause any damage to the local ecosystem,. Actors in Hollywood are striking. Since inception, in September 2013, Huon has invested $461,218 in 262 projects! The application was referred to the Board of the "The share offer is $425 million but it would also mean JBS takes on $120 million in company debt and there's also a dividend in the offer.". Huon operates fish pens in Storm Bay, off Bruny Island, Macquarie Harbour, near Strahan, and Hideaway Bay, near Dover, a fish processing, packing and value-added facility in Parramatta Creek, Tasmania. For its part, JBS (helped out by lobbyist and former Nationals director Scott Mitchell) wants it made clear the Batistas are only shareholders and dont have day-to-day involvement in the group, which overhauled its processes following the bribery scandal. By raising consumer awareness and knowledge through forcing industry transparency, demand for animal products will reduce, and fewer animals will suffer. "They won't have to report on the Australian stock exchange they'll report on the Brazilian exchange, and Huon will only make up about 3 per cent of the total company. Australia's infant aquaculture industry has long struggled to draw the kind of love and attention that businesses need to prosper and reach a critical mass. Wait until you hear of the good deeds of JBS Without Borders roving abattoir workers. That means other local aquaculture producers of note, such as South Australia's tuna farmers and WA's barramundi operator, could well be on the menu of JBS or other major protein players.
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