Hyman Seafood has sold for a record $2,865,000 to a group of investors, with the Australian government now poised to purchase the seafood business in a deal worth about $2 billion.
The acquisition, announced today, marks Hyman as the first of many Australian businesses that will soon be sold, with others in the market expected to follow.
In an announcement, the Australian Government said it would purchase Hyman and its subsidiaries, which include a seafood processing plant and a wholesale business.
“We are pleased to be able to announce that the Australian and New Zealand governments have decided to purchase Hymen’s Seafoodle operations in New South Wales,” Australian Industry Minister Amy Adams said.
Hyman’s was founded in the late 18th century and has been operating in Sydney since 1873.
Mr Adams said the acquisition was a significant milestone for the state, and a testament to the “extraordinary” economic growth of the state.
“We believe this is a major milestone for Australia, and it is great to see our state become the largest exporter of seafood globally,” she said.
Hyman Seafoodle will remain a family-owned company, with Mr Adams saying that the group would remain focused on producing and selling the best quality seafood.
A Hyman spokesperson said the sale would be completed by the end of the year.
More to come.