Mareterram (ASX:MTM) will pick up the pace of its agribusiness in Western Australian in 2016 as trading of its shares will commence on the ASX on Wednesday, 6 January 2016 at 10 am AEDT after compliance with listing rules.
It is the latest step in the rise of Mareterram Limited, formerly Style Limited, which acquired its first agribusiness NorWest Seafoods for $20 million in June last year.
In August Mareterram, which means "sea and land" acquired the food service division of the Craig Mostyn Group for $3 million. The company is likely to build a vertically integrated agribusiness and may also have plans for farming the land.
Agribusiness and food, which did not make the top 10 list of sectors for Chinese M&A investment in 2010, was fifth in terms of deal value last year. The increased M&A activity in Australian agribusinesses has surged due to the security and product safety profile of local producers.
Investors have woken to this surge pushing share prices of listed agribusiness companies higher in 2015. Mareterram is likely to be a near term beneficiary with the listing of its shares and integration of its businesses.
Based in Carnarvon, 900 kilometres north of Perth, NorWest Seafoods is licensed to operate in the Shark Bay prawn fishery which is the largest in Western Australia.
Prawns are exported to markets in Asia as well as sold to local buyers. Norwest is the only prawn trawling fleet in Western Australia that can process locally onshore.
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