South Australia oyster company acquires additional leases in Eyre Peninsula

South Australia-based Angel Seafood secured approximately 6.25 hectares of additional water leases in Eyre Peninsula in early November, the company said in a recent statement.

One lease includes two hectares of developed water with associated infrastructure in Coffin Bay. The company claims this area alone could already help increase its overall annual oyster production capacity from 10 million to 12 million.

An additional 2.25 hectares of developed water has also been secured in Coffin Bay while the remaining two hectares are in Cowell.

The acquisitions are in line with what Angel has stated as its "three-pillar growth strategy," whose ultimate objective is to increase production capacity to 20 million oysters per year and at higher margins.

The company added that it will continue to lease additional areas with option to buy where such options are available.