Catalano’s Seafood – Bringing Australia the best seafood for over 50 years – Set to float on the ASX!!

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‘Ocean to Plate’

Western Australian Premier Seafood processor, wholesaler, retailer and exporter sets its eyes on the Australian retail seafood market which is expected to be $934 million in 2021-22 and Australian wholesale market with expected total revenue to be $4.3 billion.

About

Established in 1969, Catalano Seafood Ltd employs over 70 people in which handled over 2,047 tons of seafood in 2020/21. Catalano primarily distributes its products directly to independent supermarkets in Western Australia via Metcash, the IGA supermarket franchisor, which enables Catalano’s to penetrate the broader network through centralised distribution. The range of products is extensive and evolving with products such as Prawns, Oysters, Salmon, and a variety of other Australian fish species like Snapper and Barramundi. The strategic positioning in the supply chain starts at the WA Toll Processing Facility which is unrivalled in Western Australia.

Not only does the Toll Processing Facility (TPF) generate significant revenue, but it also supplies a service in great demand. Strategically this is how Catalano’s can exercise control over the supply of quality Australian Seafood as they have the skill set to process all species of seafood then package and label.

Growth

Boasting FY21 Revenue of $17.1 million (>40% on previous year) Catalano are targeting an aggressive expansion strategy which involves potential offerings into >2,000 independent & branded stores Australia wide. Catalano’s has developed a Growth Strategy around 3 key pillars.

Processing:

– One of few nationally accredited Toll facilities

– Catalano’s operates high tech multispecies processing facility

– Experienced team of 70 staff

Current retail channels include:

-Currently operating in high-end metropolitan IGA supermarkets

-Servicing Metcash, Australia’s leading wholesale distribution & marketing company, with seafood product

Commercial Footprint:

– National roll out of Seafood Management Solution to branded & independent outlets in progress

– Three Company-owned stores located in Perth, Western Australia – Garden City, Whitfords and Factory Direct

– Experienced management team

Opportunity

Family-run Catalano Seafood, have secured cornerstone investment for their Initial Public Offering (IPO) seeking to raise a minimum of $5million and a Maximum of $6Million at $0.20 per share, with plans to list via the Australian Stock Exchange (ASX) on 24th February 2022 under ASX Ticker: CSF

A Valuation of $15.9M (Undiluted Minimum subscription) with an attractive Enterprise value of ~ $11.5m gives early investors exposure to the booming Domestic seafood market.

Key Dates

Closing Date of Offer: Thursday 10th February 2022

Expected Date for ASX Quotation: Thursday 24th February 2022

Lead Manager: RM Corporate Finance Pty Ltd

Substantial Holders on a Minimum Subscription Basis

NameNumber heldPercentage
Windsor Investments Pte. Ltd11,473,64814.34%  
Michael Marcus Liew10,623,74813.28%  
Eugene Pong Sin Tee8,498,99810.62%  
Chai Yuk Liw4,249,4995.31%  

For more info on the company and IPO participation please contact:

Company Website:

https://www.catalanos.net.au/

https://catalanoipo.thereachagency.com/offer/

Nick Catalano

Executive Chairman

nick.catalano@catalanos.net.au

0413 431 831

Auspac Financial Advisory

graham@auspacfa.com

0408 949 399

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