Greek aquaculture companies Dias Aquaculture and Selonda have announced that they are merging to become the largest sea bass and sea bream producer in the world.
The company will be renamed Selonda and will produce around 40,000t annually and will employ approximately 1,500 people. The company is predicted to have a combined total turnover of over 230m and a 15% share of the global market for sea bass and sea bream.
The production facilities of the new company will include 72 sea-cage farms, seven hatcheries, 14 packing stations, two processing plants and two distribution centres.
John Stephanis, executive chairman of the new company said: We are creating the leading Greek corporation in the aquaculture sector. The new Selonda will be a leader not only of the Greek aquaculture industry, but of the entire Mediterranean fish farming sector.
By focusing on the synergies that will result from the merger as well as the product quality and other characteristics that differentiate us from the competition, the new company will adapt a more flexible and aggressive strategy in regards to penetrating an even greater number of markets abroad. The agreement that has been reached is evidence of the fact that we will continue to strive to achieve of our vision, to the benefit of our company, its shareholders, its employees as well for the entire Greek aquaculture sector that contributes a great deal to the country’s economy.
The merger is subject to the approval of the two companies’ Board of Directors, the Greek Competition Board as well as the Ministries of Development, Infrastructure, Transportation and the General Commerce Committee.
Mercator Media Ltd 2013