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Tassal Group Limited
Company typeSubsidiary (formerly Public)
ASX: TGR (formerly)
ISINAU000000TGR4
IndustryAquaculture
Founded1986; 38 years ago (1986)
Headquarters
Hobart, Tasmania
,
Australia
Area served
Products
Production output
  • IncreaseSalmon 40kt
  • IncreasePrawn 3.9kt
 (2021)
Brands
  • Tropic Co
  • Superior Gold
  • Tasmanian Smokehouse
  • De Costi Seafoods
[1]
Revenue
  • IncreaseA$594m
[2] (2021)
  • DecreaseA$61.4m
 (2021)
  • DecreaseA$34.6m
 (2021)
Number of employees
1712[3] (2021)
ParentCooke Inc.
SubsidiariesDe Costi Seafoods
Websitetassal.com.au

Tassal is a Tasmanian-based Australian salmon farming company founded in 1986. It was listed on the Australian Securities Exchange (ASX) from 2003 until 2022. Tassal is the largest producer of Tasmanian grown Atlantic salmon, supplying salmon to both domestic and international markets.[4][5] In November 2022, it was acquired by Canadian seafood company Cooke Inc. and delisted from the ASX.[6][7]

Operations

[edit]

As of 30 June 2021, Tassal employed a total of 1,712 people, with over 1,000 in Tasmania, 430 in NSW and 200 in Queensland.[3]

Seafood and prawns

[edit]

Operations in Queensland are focused on farming prawns. NSW operations also support the processing and distribution of seafood products other than salmon.

Salmon

[edit]

Marine farming zones

[edit]

Tassal has five marine farming zones, where the standard pen has a volume of 11,600 cubic metres and holds enough salmon to produce 120 tonnes once harvested. Salmon are kept in these large sea cages between 12 and 18 months and continue to grow until they are ready to be harvested at an average weight of 5.0 kg live weight.[citation needed]

Freshwater hatcheries

[edit]

Tassal operates two hatcheries, with a third to be developed, it also has access to the selective breeding program operated by SALTAS on behalf of the Salmon industry in Tasmania.

Combined, they have the capacity to produce ten million smolt a year[citation needed]. These smolt come from broodstock from a Tasmanian-based industry selective breeding program. The Rookwood Road Hatchery and Nursery underwent an expansion in April 2016 to make it the biggest land-based salmon nursery in Australia with the capacity to produce approximately 8 million smolt per year. After 8–12 months at Rookwood Nursery, the smolt are transferred to sea.[9]

  • Rookwood I & II Ranelagh
  • Russell Falls & Karanja Mount Field
  • SALTAS (industry hatchery) Wayatinah
  • HRAS (future development), Hamilton

Processing facilities

[edit]

Tassal has four processing facilities, including a smokehouse, one retail outlet and a mobile salmon truck.[10][11]

  • Huonville, Salmon processing
  • Margate, Salmon processing
  • Dover, Salmon processing
  • Triabunna, Rendering facility

Acquisitions

[edit]

On 1 February 2005, Tassal acquired Aquatas from Webster.[12]

On 31 December 2007, Tassal announced it was acquiring the assets and intellectual property of Superior Gold from the King Island Company, a wholly owned subsidiary of National Foods, for $26.5m.[13]

On 1 July 2015, Tassal announced the acquisition of DeCosti Seafoods.[14]

In September 2018, De Costi Seafoods, a wholly owned subsidiary of Tassal Group, acquired the land, assets and inventory of the Fortune Group prawn aquaculture business.[15][16]

On 16 August 2022, Tassal Group was acquired by the Canadian aquaculture company Cooke Inc. at 5.23 Australian dollars per share, or a total of 1.7 billion Australian dollars (1.19 billion US dollars). This was the third, highest offer Cooke Inc. made to Tassal.[17]

Partnerships

[edit]

In 2012, Tassal and WWF announced the “WWF Australia and Tassal Sustainable Aquaculture partnership".[18]

Third party certification is currently provided by Aquaculture Stewardship Council (ASC), Best Aquaculture Practices,[19] Global Salmon Initiative.[20][21]

Environmental sustainability

[edit]

In 2016, ABC News reported that Tassal would begin trials into farming three native seaweed species (Lessonia corrugata, Ecklonia radiata and Macrocysts pyrifera) alongside salmon and oyster on its farm leases to diversify the ecosystem of the farms.[22] The macroalgae farming in the salmon cages also absorb pollution, such as chemicals and parasites.[23]

Tassal became the 17th member of the Global Salmon Initiative in February 2018. In 2018, they moved towards 100% recycling of their hard and soft plastic.[24]

Violations

[edit]

Communications between Tassal and the Department of Primary Industries, Parks, Water and Environment (DPIPWE) recorded several "unacceptable environmental impacts" from 2005 and 2009, something Greens leader Kim Booth called a "background of non-compliance."[25]

During November 2016, non-compliances were detected at leases in Macquarie Harbour, where three salmon companies farm. Tassal alerted the EPA to issues and subsequently destocked its Franklin lease in the Harbour. The lease was fallowed for 18 months, during which time Aquaculture Stewardship Council was not pursued for the lease as there were no fish in it.[26]

In May 2017, the ASC found Tassal had failed to comply with 19 requirements for ASC Certification in Macquarie Harbour.[27]

Inquiry witness tampering

[edit]

In February 9, 2017 a senate committee was established to investigate claims of witness tampering made in a 2016 episode of the investigative television program Four Corners. The show focused on the Tasmanian Salmon aquaculture industry and the local opposition to bay leases, with issues covered including environmental impact, health and sustainability practices of Tassal in particular. The episode included interviews with Dover mussel farmer Warwick Hastwell who accused Tassal of ruining his business. Located downstream from Tassel's main farm, mussels stopped growing there after being covered with orange tunicate, an invasive invertebrate that Hastwell believed originated from in-water cleaning of salmon pens.[28][25] Hastwell claimed that Tassal had paid a lump sum for his leases and a confidentiality deed. Set to give evidence in a 2015 senate inquiry into the aquaculture industry, Tassal e-mailed Hastwell's lawyer, "We remind your clients of their obligations not to make disparaging statements whether in relation to the Senate Enquiry (sic) or to the media or otherwise."[29][30] Hastwell did not appear during the senate inquiry. On February 8, 2017 Tasmanian Senator Stephen Parry told parliament that the Environment and Communications Committee reported, "Having taken the necessary steps, the committee has concluded that the witness may have been improperly influenced."[31]

Representation in media

[edit]

On 26 April 2021, Tasmanian author Richard Flanagan published the controversial non-fiction book Toxic: The Rotting Underbelly of the Tasmanian Salmon Industry, which claimed to expose a range of unethical practices in the Tasmanian salmon industry.[32]

Macquarie Harbour

[edit]

In May 2018, Tassal established a joint venture with Petuna to farm in Macquarie Harbour. The goal was to improve stocking strategies, bio-security and allow longer fallowing periods to protect the environment.[33]

Antibiotic use

[edit]

Concerns have been raised by Tasmanian community groups, such as the organization Marine Protection Tasmania, over the use of antibiotics by the company, particularly regarding the fact that there is a legally required 1000 degree day antibiotic withdrawal period before a farm salmon is slaughtered, but "wild" salmon that is fished by the public may still be contaminated with antibiotic residue. A monitoring report by the Environment Protection Authority Tasmania (EPA) that was published in July 2022 found that after heavy antibiotic use in response to a vibrio outbreak in Tassal's Sheppards lease in January of that year, flathead salmon caught 2 kilometres (1.2 mi) away from the boundary of Tassal's lease contained levels of antibiotics above the reportable threshold. Additionally, the World Health Organization has warned that antibiotics misuse contributes to antibiotic-resistant organisms developing, and that vaccination ought be used to prevent misuse. Tassal attempted to prevent the 2022 report, as well as another antibiotic residue monitoring report from September 2020, from being released to the public by the EPA.[34]

In 2017 Tassal confirmed its use of the antibiotic oxytetracycline,[35] which was not used in humans in 2018 in Australia, and was rated as low importance by the Australian Strategic and Technical Advisory Group on Antimicrobial Resistance.[36]

Antibiotic use is audited annually by the ASC, whose standards forbid the use of antibiotics from the World Health Organization list of Critically Important Antimicrobials for Human Medicine.[37]

Usage as reported by Tassal, for each annual reporting period,[38][39] and as reported by the EPA for each year in kilograms per year:[34]

Year Antibiotic (g/t) Antibiotic (kg/yr)
2003 285
2004 996
2005 878
2006 4,536
2007 9,295
2008 4,007
2009 3,281
2010 1,337
2011 239
2012 48
2013 391
2014 408
2015 32
2016 800
2017 17.16 0
2018 0 0
2019 54.73 2,139
2020 35.52 1,442
2021 0 146
2022 1,116

Awards and recognition

[edit]
  • In 2012, Tassal was recognised as an "Employer of Choice" by the Tasmanian Government.[40]
  • In November 2014, Tassal became the first salmon farming company globally to achieve the Aquaculture Stewardship Council (ASC) certification across its harvest sites.[41]
  • In 2015, Tassal received the Coles “Sustainable and Ethical Excellence” award.[42]
  • In 2015, CEO Mark Ryan was awarded the Banksia Foundation Richard Pratt CEO award for contributions to sustainability nationally.[43]
  • In 2016, Seafood Intelligence benchmarked Tassal as top salmon or trout company in an international report on sustainability reporting and transparency.[44]
  • In 2021, Tassal was ranked #14 in the global Coller FAIRR Protein Producer Index, the highest for an Australian Company.[45][46]

Brands

[edit]

Tassal owns several brands, including:

  • Tassal
  • Superior Gold
  • Tasmanian Smokehouse
  • De Costi Seafoods
  • Aquatas[47]
  • Salamanca Seafood Company[48]

References

[edit]
  1. ^ "Brands - Tassal Group".
  2. ^ "2021 Annual Report" (PDF).
  3. ^ a b "Employees - Tassal Dashboard". Archived from the original on 9 December 2021. Retrieved 9 December 2021.
  4. ^ "Tassal offers CEO-hosted tours of farm sites, dismisses concerns over fish deaths". ABC News. 9 January 2018. Retrieved 16 October 2018.
  5. ^ "Tassal Joins Global Salmon Initiative, Expanding Its Global Membership to 17 Companies". Global Salmon Initiative. Retrieved 16 October 2018.
  6. ^ Thompson, Brad (16 August 2022). "Canadian suitor lands Tassal with $1.1b offer". Australian Financial Review. Archived from the original on 10 March 2023. Retrieved 5 April 2022.
  7. ^ Tassal Group Limited - Suspension from Quotation 'Australian Securities Exchange 9 November 2022
  8. ^ "Proserpine Prawn Farm". thechannel.tassal.com.au. Retrieved 16 August 2024.
  9. ^ "Salmon hatchery doubles in size". ABC Rural. By Nick Bosly-Pask. 30 March 2017. Retrieved 16 October 2018.{{cite news}}: CS1 maint: others (link)
  10. ^ "Tassal Group – Our Operations". tassalgroup.com.au. Retrieved 16 October 2018.
  11. ^ "Tassal Group Ltd (TGR.AX)". Reuters. Archived from the original on 16 October 2018. Retrieved 16 October 2018.
  12. ^ "Tassal Group Limited Announces Merger with Aquatas" (PDF). Tassal Group. Retrieved 14 December 2021.
  13. ^ "Superior Gold" (PDF). Tassal Group. Retrieved 14 December 2021.
  14. ^ "Tassal executes agreement to acquire De Costi Seafoods" (PDF). ASX. Retrieved 14 December 2021.
  15. ^ "Tassal expands landholdings with new Fortune deal". 18 September 2018. Retrieved 16 October 2018.
  16. ^ "Tassal prawn acquisition" (PDF). ASX. Retrieved 14 December 2021.
  17. ^ "Australia's Tassal accepts sweetened $1.2 bln bid from Canada's Cooke". Archived from the original on 21 November 2022. Retrieved 5 April 2023.
  18. ^ "Tassal expands landholdings with new Fortune deal". Farming Ahead. 18 September 2018. Retrieved 16 October 2018.
  19. ^ "BAP Certified Aquaculture Producers". Retrieved 9 December 2021.
  20. ^ "Members - Global Salmon Initiative". Retrieved 9 December 2021.
  21. ^ "Sustainability & Accreditation". Archived from the original on 9 December 2021. Retrieved 9 December 2021.
  22. ^ Dakis, Sally (31 August 2016). "Salmon farmer Tassal and oyster producers team up to trial growing seaweed on marine leases". ABC News. ABC. Archived from the original on 11 February 2023. Retrieved 5 April 2023.
  23. ^ Evans, Owen (31 August 2018). "Tasmanian salmon farmer greenlights seaweed trial". Archived from the original on 27 May 2022. Retrieved 29 October 2018.
  24. ^ "Tassal Joins Global Salmon Initiative, Expanding Its Global Membership to 17 Companies". Global Salmon Initiative. Retrieved 29 October 2018.
  25. ^ a b "How salmon farming pushed Macquarie Harbour to the limit". Australian Broadcasting Corporation. 8 June 2017. Retrieved 3 March 2024.
  26. ^ "Tassal, Petuna form JV to cooperatively manage Macquarie Harbour salmon". Undercurrent News. Retrieved 24 October 2018.
  27. ^ "Tassal given three months to clean up Macquarie Harbour leases". ABC News. 19 May 2017. Retrieved 22 October 2018.
  28. ^ "Salmon farming in Tasmania: Concerns mount over planned expansion of ocean fish farms". Australian Broadcasting Corporation. 23 March 2015. Retrieved 3 March 2024.
  29. ^ "Salmon farmer Tassal referred to Senate over alleged attempt to influence witness". The Guardian. 3 November 2016. Retrieved 3 March 2024.
  30. ^ Big Fish. 31 October 2016. ABC News. Archived from the original on 17 August 2022.
  31. ^ "Salmon farming giant Tassal to be probed over witness pulling out of aquaculture inquiry". Australian Broadcasting Corporation. 9 February 2017. Retrieved 3 March 2024.
  32. ^ Langenberg, Adam (22 April 2021). "Author Richard Flanagan unleashes tirade against salmon farming industry". Australian Broadcasting Corporation. Retrieved 27 August 2021.
  33. ^ Whitson, Rhiana (19 May 2018). "Tassal, Petuna joint venture in Macquarie Harbour not a PR exercise, companies say". Retrieved 29 October 2018.
  34. ^ a b Burton, Bob (27 February 2023). "Documents reveal Tassal wanted two reports on antibiotic use at salmon farms kept secret". Tasmanian Inquirer. Archived from the original on 24 March 2023. Retrieved 5 April 2023.
  35. ^ "Antibiotic use soars at Tassal fish farm". News Corp Australia. Retrieved 12 December 2021.(subscription required)
  36. ^ Australian Strategic and Technical Advisory Group on Antimicrobial Resistance (ASTAG). "Importance Ratings and Summary of Antibacterial Uses in Human and Animal Health in Australia" (PDF). p. 40. Retrieved 10 December 2021.
  37. ^ "15 Facts about the ASC". Retrieved 10 December 2021.
  38. ^ "Antibioltic used - Tassal Dashboard". Archived from the original on 3 March 2021. Retrieved 10 December 2021.
  39. ^ "2021 SUSTAINABILITY REPORT" (pdf). p. 43. Retrieved 10 December 2021.
  40. ^ "Recognised Employers of Choice - Business Tasmania". Archived from the original on 22 November 2021. Retrieved 11 December 2021.
  41. ^ "WWF - Tassal". Retrieved 22 October 2018.
  42. ^ "Coles honours top suppliers". Retrieved 12 December 2021.
  43. ^ "Tassal CEO takes out sustainability award - WWF-Australia". Retrieved 22 October 2018.
  44. ^ "Tassal world number one". Retail World Magazine. Archived from the original on 16 May 2018. Retrieved 12 December 2021.
  45. ^ "Company Ranking in the Coller FAIRR Index - FAIRR".
  46. ^ "Tassal Group Ltd - FAIRR".
  47. ^ "Company Overview of Aquatas Pty Ltd". www.bloomberg.com. Retrieved 16 October 2018.
  48. ^ "Tassal Group – Tassal Growth Continues". tassalgroup.com.au. Retrieved 16 October 2018.
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