- Pacific Reef Fisheries is responsible for about 20% of sustainable farmed black tiger prawns nationally
- This equates to over 1,100 tonnes of prawns
- Settlement details, including price, have not been disclosed publicly
Pacific Reef Fisheries, a farm responsible for 20% of sustainably farmed black tiger prawns from Australia, has been sold.
Selling over 1,100 tonnes of prawns annually, the farm was sold just before Christmas, having been on the market since mid-2021. It consists of the Alva Prawn Farm and Guthalungra Prawn Hatchery.
The price has not been disclosed, nor has the settlement date.
MBD, a bioremediation business, had previously bought the operation back in 2017.
The Alva Prawn Farm has been accredited by the Aquaculture Stewardship Council (ASC) since 2018, the first such farm to have been certified in Australia.
The certification means the farm has minimal impact on the Alva Beach waters, thus reducing its overall environmental impact.
ASC certification is generally regarded as the highest global standard for responsible and sustainable aquaculture.
Alva Prawn Farm has 331 hectares of highly developed growout farm with 105 growout ponds located across 98 hectares, and includes a 200-tonne freezer with supporting processing, administration and other supporting infrastructure.
It is also home to a secure irrigation water system consisting of 474 megalitres.
Adjoining the Alva Prawn Fam is an approx. 120-hectare sugar cane farm land.
The 8-hectare Guthalungra Prawn Hatchery is one of the largest modern hatchery facilities nationally and is home to an approved 259-hecatre greenfield development site.
A highly specialised facility, infrastructure includes two hatchery sheds, five igloos and two sets of quarters.
Land Agribusiness Water Development agents Elizabeth Doyle and Danny Thomas facilitated the sale through an expressions of interest campaign.