Takeover target Tassal puts salmon on more shelves
Tasmanian salmon farmer Tassal, which is a takeover target for Canadian fish farmer Cooke, has begun supplying fresh packaged salmon portions to major Australian food retailer Coles.
Tassal, which produced 40,000 gutted weight tonnes of salmon in its 2021 financial year, is offering fresh salmon skin on and skin off variations, fillets in sauce, salmon burgers, and diced salmon.
Some products are in a skin pack and others in a ready-to-cook foil tray.
Last month Tassal Group, which also grows prawns, rejected an A$1.04 billion (£589 million) takeover offer from family-owned Cooke, which farms salmon in Canada, the US, Scotland, and Chile.
Tassal said the offer did not reflect the fundamental value of its business and was not in the best interests of shareholders.
“The Company’s Board of Directors believes Tassal has an attractive independent future and is well positioned to deliver growth in shareholder value,” stated Tassal. “The Board of Directors and management team remain focused on building on the company’s long history and delivering on our strategic objectives.”
Coles operates around 800 stores in Australia. Tassel products are also available at grocery chain Woolworths, which has more than 1,000 outlets in Australia and New Zealand.