The Tasmania salmon producer Tassal is in takeover talks with De Costi, a privately-owned seafood supply business based in Sydney.
Tassal, which just released its first half results with profit up 34.8% to $30.3 million, confirmed it is in discussions. Revenue was up 12.3% to $150.95 million.
However, it says there’s no certainty a transaction will eventuate.
CEO Mark Ryan says Tassal has generated double-digit profit growth as well as further reduced gearing, while also substantially increasing dividends.
The interim dividend was increased by 27.3% to 7 cents per share, 50% franked.
Tassal shares are up 4.6% to $4.07.