Yumbah Aquaculture has become the only Australian abalone farm to produce and control the supply of its own feed after it bought South Australian based feed manufacturer, EP Aquafeeds.
Yumbah Aquaculture has taken a controlling 75 per cent interest in the EP Aquafeeds business with the remaining 25 per cent share of the company remaining with current co-owner Thomas Coote.
Under the terms of the acquisition the business will become Yumbah Aquafeeds.
Yumbah Aquafeeds will continue to employ five people full time at Lonsdale, in Adelaide’s south, but as Yumbah invests for growth, it expects to create more operational diversity and more jobs.
Yumbah Aquaculture director Anthony Hall said certainty of feed supply and control over composition and quality of feed were two of the key attractions in the acquisition.
“With Yumbah Aquafeeds we can increase our focus on research and development, grow the capabilities of our company and ultimately achieve new efficiencies and improve productivity,” Mr Hall said.