Sea Harvest Fish - The Leading Fishing Company in South Africa  : Sea Harvest

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Date Posted: 22 August 2017

Sea Harvest Fish

Sea Harvest – The Leading Fishing Company in South Africa

Sea Harvest’s fish and seafood are sold throughout South Africa at respected fish mongers, retailers, restaurants, food markets and supermarkets. The company, known for superior-quality frozen fish supply, is a leading black-controlled and black-owned sea-fishing firm with operations in South Africa, and now also Australia.

Sea Harvest is a major employer in the Western Cape with operations in Saldanha Bay and Mossel Bay, located on the southern coast of South Africa. Sea Harvest expanded its operations in 2016 with the acquisition of controlling interest in Australian-based Mareterram Limited, a vertically integrated agri-business. Mareterram is also listed on the Australian Stock Exchange, and has extensive business operations in several parts of Australia. With its controlling interest in Mareterram, Sea Harvest has gained an existing platform in Australia to expand its fish operations and supply in Australia.

The Group mainly focuses on the fishing of Cape hake and Shark Bay prawns, in addition to the processing of seafood for distribution to local and international markets. Sea Harvest is a well-known and trusted frozen fish brand in South Africa, but not many consumers know that the company also markets and delivers frozen fish and seafood products to consumers in more than 23 countries worldwide.

Indeed, the company has offices in Cape Town, Durban, and Johannesburg, in addition to offices in Brisbane, Melbourne, Sydney, Adelaide, and Perth.

The recent JSE listing was a natural outcome of Sea Harvest’s focus on becoming a diversified global seafood business, according to Felix Ratheb, Chief Executive Officer of Sea Harvest and Non-Executive Director of Mareterram. According to Mr Ratheb, the JSE listing has given the company the necessary access to equity capital for investments in its assets and furthering its margins. The Group has shown good and stable growth over the last five years, with 15% revenue in CAGR and 22% in EBITDA.

Sea Harvest has several key strengths, which gives the company a competitive edge in the fishing industry. The company’s fish products are sold in more than 2 000 retail outlets in South Africa, and with the wide range of innovative and well-prepared products on offer, the company is able to give consumers convenient, chilled and frozen fish and seafood solutions.

Sea Harvest follows sustainable fishing practices, and is actively involved in pursuing conservation efforts to ensure the sustainability of the seafood resources of the South African coastal waters. 

Source as received from Sea Harvest to be used:

Sea Harvest intends to list on the JSE 8 February 2017

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