Representatives from PauaCo Ltd and Ralph’s Tasmania Seafood Pty. Ltd announced this week that the two companies will be merging on August 25th, 2017 resulting in the creation of Australasia’s largest Abalone processor and exporter.
PauaCo is a leading force in canned abalone currently supplying retail and catering markets in South East Asia while Ralph’s Tasmania Seafood’s expertise lies in live abalone export to mainland China. The merger has come about in order to better utilize the wild abalone resource in both New Zealand and Australia.
“We are delighted to be able to announce this merger to the market”, said David Hogg, Chairman of PauaCo. “It marks the beginning of an incredibly exciting period of transformation for the abalone industry on both sides of the Tasman. At the very heart of this deal is better utilization of a wild resource and growth in the value of that resource for all of the stakeholders involved.”
“I am very happy to be joining forces with PauaCo”, said Ralph Caccavo, Co-Founder of Ralph’s Tasmanian Seafood. “We have found a business that shares our goals for the future of the industry and together we can offer the best routes to markets for our suppliers and the best products for our customers.”
The consolidation of the two businesses will lead to greater distribution access for live Paua exports from New Zealand whilst allowing the maximization of Australian abalone currently not able to be sold into the live markets. The new combined entity will become the largest supplier of wild abalone in the world. The value that will be provided back to stakeholders in New Zealand and Australia should grow as a result of the merger.
About PauaCo: PauaCo was formed in 2012 and is a result of a consolidation of a number of smaller Pāua fishing and processing companies. Privately owned by fishers and independent shareholders the company’s belief is that the key to success is a healthy, well-managed fishery and the value of the resource should be maximized at every opportunity. To learn more about PauaCo visit www.pauaco.co.nz
About Ralph’s Tasmania Seafood: Founded in 1996 by prominent Tasmanian businessman Ralph Caccavo, Ralph’s Tasmania Seafood is the world’s largest supplier of live abalone. Located on the shores of North West Bay in Southern Tasmania the company operates a modern fleet of temperature controlled vehicles and their own “mother boats”. This ensures the quality and consistency of abalone from the water to the customer. To learn more about Ralph’s Tasmanian Seafood visit www.ralphstasmanianseafood.com.au