Australia’s biggest abalone farm, Victoria-based Jade Tiger Abalone, was acquired by Craig Mostyn, a leading food and agribusiness based in Western Australia, Monday.
Craig Mostyn outbid several Chinese investors which wanted to snap up the Asian-focused business, reported The Australian.
Victoria-based Great Southern Waters is now selling more than 95 percent of its products to the live seafood markets in China, Hong Kong and Japan, with increasing appetites from the new middle classes in those regions.
The value of the deal was not disclosed, but it is believed that Craig Mostyn grabbed the business for less than AUD 20 million (€13.8
