Yumbah Aquaculture’s latest acquisition makes it largest mussel producer in Australia

Yumbah Aquaculture, an Australian producer of abalone, mussels, and oysters, has acquired Eyre Peninsula Seafoods, creating the largest mussel producing company in Australia.

Eyre Peninsula Seafoods, according to a release by Yumbah, was already the largest mussel farmer and processer in Australia, with more than 2,300 mussels produced each year under the Boston Bay Mussels and Kinakawooka Mussels brands. The new acquisition has stretched that lead, and combined the two companies will produce more than 2,600 metric tons (MT) of mussels per year at their growing operations in Victoria and South Australia.

“Bringing EPS into Yumbah enhances our position as Australia’s leading shellfish aquaculture company,” Yumbah Aquaculture CEO David Wood said in a release.

The two companies did not disclose the exact terms of the deal.

Eyre, the Wood said, made for an attractive acquisition prospect due to its well-managed operations and production.

“Our ongoing acquisition strategy focuses on well-managed operations of scale, and in this case we also get to leverage our existing Victorian mussel production,” Wood said. He added that the company has been in discussion with Eyre Executive Director Andrew Puglisi and Eyre CEO Mark Andrews about a potential merger.

“We’ve been talking with Mark and Andrew for some time and have been impressed with their foresight to develop not only the water space to grow the product, but also a major processing facility that supports quality mussels reaching consumers around the world,” Wood said.

Both Puglisi and Andrews will remain with the business, as will all of Eyre Peninsula Seafoods’ staff, according to Yumbah Aquaculture.

In addition to being the largest producer of mussels in Australia, the company is now also the largest abalone producer; with four farms in Tasmania, Victoria, and South Australia producing more than 750 MT a year. The company will also be the largest oyster spat producer in Australia, producing more than 150 million spat per year in hatcheries in South Australia and Tasmania.

Andrews said the merger will be mutually beneficial for the two companies, and will allow Eyre Peninsula Seafoods to accelerate its growth plans.

“Yumbah is a recognised innovator and committed to sustainability and growth, and the company’s recognition as an Above and Beyond producer by the Aquaculture Stewardship Council reflects Yumbah’s values, which strongly align with ours,” Andrews said.

In addition to being recognized by the ASC as an “Above and Beyond” producer, Yumbah has also been recognized for multiple awards by the Royal Agricultural Society of New South Wales, the Royal Tasmanian Fine Food Awards, the Tasmanian Seafood Industry Awards, and more.

“It’s an exciting moment for two businesses with operations in Port Lincoln, but also as two South Australian-based companies with a global shellfish outlook,” Andrews said of the merger.  

Photo courtesy of Yumbah Aquaculture