Yellowtail tuna farmed in the Gulf of Spencer, in Australia. (Photo: Clean Seas Seafood)

Clean Seas settles distribution deal with Chinese company

AUSTRALIA
Wednesday, November 14, 2018, 23:30 (GMT + 9)

Clean Seas Seafood Limited, a leading Australian firm engaged in yellowtail kingfish farming, production and sale, has signed a non-exclusive distribution agreement for China with seafood distributor Hunchun Haiyun Trading Co Ltd (HH).

“We are excited to secure a distribution partner of Hunchun Haiyun’s reputation and capability. In China, HH is one of the leading distributors of King Crab, a premium seafood with strong channel synergies with our own products. We look forward to working closely with HH to extend our marketing and activation campaigns into China, generating demand for our products which we can supply through HH’s wholesale networks,” pointed out Clean Seas Managing Director and Chief Executive Officer David Head.

► The yellowtail kingfish "Hiramasa" from Clean Seas obtained certification from the ASC. (Photo: Clean Seas)

HH distributes live, fresh and frozen products to premium restaurants and food service outlets across China, employing more than 260 people. The company has a proven premium seafood distribution capability with annual sales of king crab of approximately 6,000 tonnes.

Clean Seas sees strong synergies between this sales channel and that of Spencer Gulf Hiramasa kingfish, and looks forward to this partnership contributing to sales growth in the fiscal year 2019 and beyond.

Head explained that this partnership represents a material step forward in executing their international growth strategy. The executive also stated that they are also in discussions with a number of leading food exporters in Australia with existing supply channels into premium Asian seafood markets.

“We expect to formalise a number of non-exclusive distribution partnership deals across these channels over the coming 12 months, and look forward to keeping investors updated on our progress,” he said.

Clean Seas considers this to be a strategically important agreement offering an additional potential revenue stream and path to scale in a large, attractive premium seafood market.

Yellowtail kingfish "Hiramasa" fattening cages (Photo: Clean Seas)

Clean Seas Seafood is the largest aquaculture producer of yellowtail kingfish outside Japan. It develops this species farming full cycle and sales most of it whole and fresh and are airfreighted around the world in refrigerated containers.

A new processing plant and rapid freezing technology commissioned in Adelaide last year has helped the company enter new markets.

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