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Angel Seafood secures South Australian Global Expansion Program funding

The company is among 20 South Australian businesses selected for funding to accelerate export market development initiatives.

Angel Seafood Holdings Ltd - Angel Seafood secures South Australian Global Expansion Program funding
Angel is the Southern Hemisphere’s largest producer of certified organic and sustainable Pacific Oysters.

Angel Seafood Holdings Ltd (ASX:AS1) has secured funding from the South Australian Government-aided Global Expansion Program aimed at growing export capacity into new and existing markets.

The Global Expansion Program is a four-year funding program targeting South Australian businesses with solid growth and potential to diversify or boost their presence in existing or new markets.

Angel Seafood is among 20 South Australian businesses to be selected to benefit from the initial $1 million funding program.

South Australian Minister for Trade and Investment Stephen Patterson made the announcement as part of the Showcase SA’s Business Accelerator series during a visit to Port Lincoln.

“Three-pillar growth strategy”

Angel’s CEO and founder Zac Halman said: “Export of our premium organic oysters into emerging high-value markets such as South-East Asia and the Middle East is a significant part of our three-pillar growth strategy to increase scale and profitability.

“We thank the South Australian Government for recognising Angel’s potential among other South Australian businesses and promoting our products.

“The funding and assistance from the State Government will help Angel to obtain professional services to gain insights into new and existing markets and to establish new partnerships that will accelerate our efforts to increase exports.

“We are very excited to be part of this program and look forward to achieving further traction in new high-value export markets.”

About business

Angel has grown from a family-operated South Australian business and has rapidly developed from a traditional oyster-growing business into a premium, innovative and organically certified producer of Coffin Bay Oysters.

The company primarily sells oysters to the domestic market, however, exports represent a substantial long-term growth opportunity.

Quick facts: Angel Seafood Holdings Ltd

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Market Cap: $23.43 m

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