PFF’s subsidiary, Premier Fishing, is a vertically integrated food and fishing company which specialises in the harvesting, processing and marketing of fish and fish-related products, as well as general food products. It employs more than 350 permanent and seasonal staff and its business includes factories, processing facilities and fishing vessels operating in three provinces. Its products range from rock lobster to octopus, squid, abalone, pilchards, hake, general food products and environmentally friendly agri-biotechnology products. Premier Fishing is one of the largest black-owned and controlled fishing companies in South Africa and has been in existence since 1952. Premier Fishing has four operating divisions, two subsidiary companies and a number of joint venture operations.

Premier Fishing and its subsidiaries hold medium to long-term fishing rights in west coast rock lobster, south coast rock lobster, small pelagics (anchovy and pilchard), hake deep-sea trawl, longline and squid. In addition, through Marine Growers (see below), Premier Fishing owns an abalone farm and invests in organic agriculture through the ‘Seagro’ range of products. Premier Fishing has various processing facilities and factories from Port Nolloth to Saldanha Bay, Hout Bay, Cape Town, Gansbaai as well as Humansdorp. Premier Fishing’s processing vessels comply with European Union (EU) regulatory standards and operate in the fishing grounds between Port Alfred and Plettenberg Bay. Premier Fishing focuses its attention on the sustainability of marine life and is a member of the South African Fishing Ethically (SAFE) Association and is Food and Drug Administration (FDA) and Hazard Analyses & Critical Control Points (HACCP) certified.

Premier Fishing’s aquaculture business, Marine Growers, is involved in abalone farming and sells its abalone locally and internationally through the Atlantic Abalone brand. It produces more than 120 000 kg of cultured abalone per annum and is rated as one of the top five abalone farms in South Africa. Marine Growers (Atlantic Abalone) is based in Gansbaai in the Western Cape. Marine Growers also owns ‘Seagro’, a producer of organic fertilisers. Seagro’s range of organic fertilisers has a wide range of applications as biological fertilisers in the agricultural, horticultural, home and garden industries. All ‘Seagro’ products are economical, environmentally friendly and compatible with insecticides and adjuvants. Premfresh is the sales and marketing arm of Premier Fishing and has an experienced marketing team with a successful performance history record of more than 16 years in marketing of fish and fish related products. It also assists small quota holders with the marketing of their fish.

The niche nature of Premier Fishing’s products enable the products to be pre-sold before they are caught or farmed. Premier Fishing has a well-diversified portfolio of product species with strong brands, both locally and globally, which are in high demand. More than 65% of the revenue is derived from foreign sales. The Company has well established brands that have been in the market for many years. In the current markets where the products are for sale, demand currently exceeds supply. South African fish species are a sought after buy, globally due to their quality, taste and texture and are rated amongst the best in the world when compared to the Company’s global competitors. PFF is well positioned for growth over the next three years and into the future. As one of the largest black fishing companies in South Africa and given that current legislation is likely to promote black participation and black industrial development in this sector, this should be beneficial for the growth in this area.

PFF will strive to grow through a combination of organic growth and earnings accretive acquisitions, to enhance PFF shareholder value and expand the business. PFF is committed to further improving operating efficiencies and profitability. PFF’s trusted brands and high-quality products and services have been developed over many years.

The Company’s aims are to:

 to implement innovative processes within the value chain and to increase efficiency in line with environmental best practices, thereby reducing its carbon footprint;

 it will look at purchases in reliable technology, which allows the Company to reduce mortalities for live lobster kept for the export market, thereby ensuring maximum use of the resource;

 look to invest in natural energy thereby reducing reliance on the national power output and reducing its carbon footprint;

 continuously mentor and develop all of its employees;

 And finally, it will look to assist small businesses to grow and achieve their full potential and ultimately delivering sustainable returns to all of their stakeholders. All this above and including that the proceeds of the private placement will be used to provide PFF with additional capital to fund its further expansionis said to be the Group’s true drivers of its continued forecasted growth.

African Equity Empowerment Investments will list subsidiary Premier Foods and Fishing (PFF) on the JSE in March to raise R526.5m capital in order to grow its market share. Premier Fishing, which is one of the largest black-owned and controlled fishing companies in South Africa, said in a statement on Monday that PFF shares had been granted a listing on the main board of the Johannesburg Stock Exchange (JSE) from 2 March 2017. It will list 117 million ordinary PFF shares at R4.50 per PFF share in a bid to raise capital to “provide the company with access to capital in order to grow its business both organically and by way of future acquisitions”, it said in a statement.

The live listing “will also provide PFF shareholders with a liquid, tradeable asset within a regulated environment and with a market-determined PFF share price”. With a workforce of about 350 people, according to PFF’s data, Premier Fishing and its subsidiaries hold medium to long-term fishing stock in west coast rock lobster, south coast rock lobster, anchovy and pilchard, hake deep-sea trawl, longline and squid. In addition, through Marine Growers, Premier Fishing owns an abalone farm and invests in organic agriculture through the Seagro range of products. Its dividend policy will be to distribute 30% of its annual free cash flow to PFF shareholders, according to its own forecast.

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