BFC beston global food company limited

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BFC Valuation, page-7

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Juaq94

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29/12/15

23:04

Post #: 16698231
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Originally posted by chris1983 ↑

Hard to value because they have large equity stakes in established businesses.

"Its South Australian shareholdings including 26.5% of B.-D. Farm Paris Creek, the Murray Bridge and Jervois dairy plants it bought from the receivers of United Dairy Power in June, 36% of seafood company Ferguson Australia and the Wellington Dairy Farm on the shores of Lake Alexandrina."

"Beston will also spend AUD 3.6m buying Port Lincoln company Mori Seafood and AUD 6.1m on the Five Star Seafoods lobster processing business at Port MacDonnell.

The BGFC offering had found strong appeal among Asian institutional investors as well as retail investors in Australia, Sexton said."

https://www.undercurrentnews.com/2015/08/26/beston-global-foods-completes-127m-capital-fundraising/

As per the recent presentation they also acquired scorpio foods.

Its very tough valuing this company. Just on Lobster alone they increased production from 128 tonnes to 380 tonnes pa. Ferguson were able to increase this production due to Bestons deep pockets from the IPO. Bestons plan is to further acquire additional lobster quota.

Lobster price is as follows taken from Fergusons facebook page.

1st grade - $110 a kilo
2nd grade - $95 a kilo

380 tonnes = 380,000 KG's. At 100 bucks a kilo that's 38 million in sales. We have 36% equity but we acquired the five star seafoods lobster processing business to cater for the increased production. I'm not sure how all the profit sharing and agreements would work. We will have to wait. The business is really involved and complex.

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Great info chris. With a diversified business and good management this could bode well in the months ahead. Looking forward to see what happens.

BFC Price at posting: 50.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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