JBS Australia boss hints at further investment in aquaculture

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“This will be our first foray into aquaculture”.

JBS chief executive Brent Eastwood has spoken with ABC radio Hobart about the company’s plans for Huon Acquaculture. During the interview he hinted at further investment in aquaculture in the country.

“This will be our first foray into aquaculture,” he said.

The JBS executive downplayed talk of moving salmon farming onshore, saying the company has not yet seen evidence “to back that up.”

“We haven’t seen anything yet that means we shouldn’t be continuing what we’re doing. It’s a very sustainable business now, a clean business, even though there’s a lot of noise from certain areas.”

In Tasmania, JBS joins Tassal — Australia’s biggest atlantic salmon producer and the only publicly listed salmon company — and Petuna, which is owned by the New Zealand-based business Sealord Group.

Last month Australia’s Foreign Investment Review Board green-lit a takeover plan by JBS. The takeover bid, announced in August, valued the company founded by Peter and Frances Bender at about $550 million, including debt.

Read more: Huon shareholders back JBS takeover