Samier Saban, the chief executive of Premier Fishing and Brands, is pleased with his company’s interim results and the progress Premier has made. Photo: Henk Kruger/African News Agency (ANA)

DURBAN – Premier Fishing and Brands chief executive, Samir Saban, has announced that the company will be looking into local and international deals according to a report by a local financial daily. 

Saban, who was speaking at the release of Premier's year to end August financial results, said that the deals would fit the company's strategy. 

There have been talks about the possibility of Premier securing an offshore acquisition soon that could be based in the US.

According to Saban, they are keeping an opening mind about their acquisitions, even looking outside of the seafood sector. 

The group surprised shareholders with a dividend of 25 cent per share, a 67 percent increase from 2017's 15 cent per share.

Talhado stake

The segmental profit report showed that the group's squid division contributed R58 million, a bigger contribution than lobster which has been Premier's main species. 

In May 2018, the group acquired a 50.3 percent stake in Talhado Fishing Group for R85 million. 

The deal was announced in October 2017. According to Saban, Talhado has a solid asset base in the squid sector and the benefits were expected to be completed within the short- to medium-term. 

Talhado is the biggest squid company in the South African fishing sector. 

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