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Dubai investment firm acquires bass, bream hatchery in North Africa
Sokotra Capital Ltd., a Dubai-based private investment company specializing in the agriculture and aquaculture sectors, has announced that a Sokotra Capital led consortium has just completed the acquisition of 100 per cent of L'Aquaculture Tunisienne (AT), the largest sea bass (Dicentharchus labrax) and sea bream (Sparus auratus) hatchery and nursery in North Africa.
August 20, 2018 By Hatchery International staff
Founded in 1988 by Si M’hamed Driss, AT has a current annual production capacity of 20 million fingerlings and 1,500 tons of fish per year, mainly seabass and seabream. AT has successfully served the local and export markets for seabass and seabream over the past 30 years and has an established reputation for delivering high-quality fingerlings, backed by a skilled and dedicated management and operational team, a statement from Sokotra Capital said.
This is acquisition is in line with Sokotra’s investment strategy focused on the highly promising agriculture and aquaculture sectors both in Africa and in South East Asia.
“We are extremely pleased with this acquisition. AT has a highly skilled team with extensive experience,” said Albert Momdjian, founder and CEO of Sokotra Capital. “Tunisia remains, and despite the recent challenges, a very attractive and friendly destination for foreign direct investments.”
He added, “We have very ambitious plans for AT and we hope to better service the local market in terms of fingerlings, but also to better position AT as a highly reliable producer of quality fingerlings to the rest of North Africa as well as, in due course, to the Mediterranean basin.”
The acquisition provides AT the capacity to become one of the leading aquaculture companies in the Mediterranean basin, according to Karim Garnaoui, CEO of AT.
“The in-depth knowledge of the industry, supported by the strong financial and strategic capabilities of the new investors, can only propel AT to become one of the best companies in the sector.”
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