MainStream Aquaculture announces the aquisition of Port Douglas aquaculture site

Melbourne, Australia (Monday 31 May, 2021) – MainStream Aquaculture today announced that they have entered into an asset acquisition agreement with Gold Coast Marine Aquaculture to purchase the company’s operations in the greater Port Douglas area. Gold Coast Marine Aquaculture is amongst Australia’s foundational prawn aquaculture businesses with the Port Douglas site one of Australia’s preeminent aquaculture sites.

MainStream Aquaculture is a proudly Australian global leader in the supply of Barramundi and is the world’s largest integrated producer of the species. The addition of the Port Douglas asset to MainStream’s portfolio adds an additional 60 hectares of production ponds holding 1 billion litres of water with production capacity exceeding 2,500 tonnes per annum.

MainStream’s CEO Boris Musa commented, “This acquisition is a key part of our Far North Queensland expansion strategy. The purchase will result in considerable investment in the region and create a large number of jobs for the local community. When combined with MainStream’s existing farms in Far North Queensland, our operations in the State will produce over 5,000 tonne of premium Australian Barramundi every year. We are committed to leading the way in feeding Australia with premium Barramundi, produced using class leading aquaculture technology while demonstrating best practice sustainability credentials.”

MainStream Aquaculture will be working with the existing personnel on site to ensure a seamless integration strategy as the site transitions from a prawn to barramundi farming operation.

ENDS

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