Oceania abalone companies to merge – Undercurrent News

New Zealand-based canned abalone supplier PauaCo and Australia-based live abalone supplier Ralph's Tasmania Seafood are set to merge Aug. 25, the companies said in a release on Thursday.

The deal will create what the companies call the largest abalone processor and exporter in Australasia.

PauaCosuppliesretail and catering markets in Southeast Asia while Ralph's specializes in live abalone exports to mainland China.The merger aimsto better utilize the wild abalone resource in both New Zealand and Australia. The consolidation will lead to greater distribution access for live Paua exports from New Zealand whileallowing the maximization of Australian abalone currently not able to be sold into the live markets, the companies said.

We are delighted to be able to announce this merger to the market, said David Hogg chairman ofPauaCo, which was formed in 2012. He added that the deal will more efficiently utilize the wild resource, resulting in better returns for all involved.

I am very happy to be joining forces with PauaCo, said Ralph Caccavo, co-founder of Ralphs. 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.

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Oceania abalone companies to merge - Undercurrent News