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Andrew Forrest, owner of agribusiness giant Tattarang. The mining magnate is demanding meat giant JBS make sustainability commitments as part of its bid for Tasmanian salmon farmer Huon Aquaculture. Photo: Tattarang

Australian agribusiness heavyweight Tattarang doubles stake in salmon farmer Huon, complicating JBS bid

The owner of the group, Tattarang Agrifood, is demanding JBS make commitments to sustainability, including using 'no fish in your fish meal so the fish farm doesn't make the depletion of the oceans even worse.'

11 August 2021 12:39 GMT Updated 11 August 2021 18:47 GMT

By Dominic Welling

Australian investment heavyweight Tattarang Agrifood -- owned by mining magnate Andrew "Twiggy" Forrest -- has increased its stake in Huon Aquaculture to 18.51 percent, less than a week after meat-processing behemoth JBS made a $314 million offer for the salmon farmer in a bid to force the Brazilian group to commit to more sustainable practices.

Tattarang Agrifood first took a 7.33 percent stake in salmon farmer Huon Aquaculture by snapping up just more than 8 million shares on June 17.

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Australian agribusiness heavyweight Tattarang doubles stake in salmon farmer Huon, complicating JBS bid