Tassal finalises De Costi deal

Tassal will pay $50 million up front to acquire De Costi Seafoods, which further payments to be made over three years.

Salmon farmer Tassal has finalised a deal to buy NSW seafood business De Costi.

After striking an in-principle deal in June, Tassal has now agreed to pay $50 million up front to acquire De Costi, with further payments to be made as part of an earn-out agreement over the next three years.

The deal, which excludes De Costi's Chatswood, Bondi and Sydney Fish Markets stores, is part of Tassal's efforts to expand its presence in Australia's $4.3 billion seafood market.