August 6, 2018

Dubai-based firm buys Tunisian fish farm
 

A private investment firm in Dubaispecialising in the agriculture and aquaculture sectors,Sokotra Capital, has bought over L'Aquaculture Tunisienne (AT) fish farm, which is located in Sousse, Tunisia,for an undisclosed amount.

AT has been serving the local and export markets for the past 30 years and has an established reputation for delivering high-quality yields, steeredby a skilled and dedicated management and operational team.

It is one of North Africa's largest seabass and seabreamhatchery with a current annual production capacity of 20 million fingerlings and 1,500 tonnes of fish, according to the two companies in a statement on Friday.

While the acquisition builds on Sokotra's investments in the agriculture and aquaculture sectors, the firm announced that it plans to pursue more of such purchases in Africa and South East Asia. Additionally, the firmintends to expand AT's business, gradually expanding it to the Mediterranean basin.

Sokotra's founder, Albert Momdjian said, "It is all about efficiency and about feeding our growing population. The protein race has already begun and we are very well-positioned as a firm and as a team to benefit from it."