Fish farm supplying Whole Foods targets international expansion – Telegraph.co.uk
An Hawaiian fish farming company backed by British entrepreneur Toby Baxendale is seeking $10m to fund its international expansion.
Kampachi Farms, which counts up-market retailer Whole Foods and three Michelin-starred restaurant The French Laundry among its customers, has appointed UK-based M&A firm Cavendish Corporate Finance to find the investment,
It currently farms environmentally friendly fish off Hawaii’s coast, providing an alternative to the endangered Bluefin tuna and tapping into the booming demand for high end seafood amid dwindling supply.
According to wildlife charity WWF, more than 85pc of the world’s fisheries have are at or beyond their biological limits and are in need of strict management plans to restore them.
In 2013, Kampachi joined forces with giant aerospace and technology company Lockheed Martin to use a mobile cage to move the farmed fish from one location to another, in order to prevent one place becoming adversely impacted.
Kampachi will open a much larger second site in the Bay of La Paz in Mexico in order to serve the North American market, before moving into Europe. It has already raised almost $6m through seed and equipment capital funding.