Ocean Grown Abalone

What Ocean Grown Abalone does

Ocean Grown Abalone, now operating under the corporate brand Rare Foods Australia, is an Australian aquaculture and wild enhanced fishery company headquartered in Augusta, Western Australia. Its core operation is a land-based hatchery combined with deployment of juvenile abalone onto artificial reefs within a protected marine park in Flinders Bay, South West Australia, where the animals are left to grow in natural habitat for 3–4 years feeding on seaweeds from the Indian and Southern oceans before dive-based harvest. The company holds the only Marine Stewardship Council (MSC) certification for a wild enhanced abalone fishery globally, which functions as the primary sustainability and provenance credential for its products.

Commercial activity is built around the Two Oceans Abalone brand, comprising two SKUs: Greenlip Abalone (the original, hatchery-cultivated product) and Wild Roei Abalone (sourced from shallower reefs off Western Australia and South Australia, smaller and stronger-flavoured). Revenue is generated through three channels: B2B supply to premium restaurants and chefs; DTC e-commerce via the rarefoodsaustralia.com.au shop; and a physical retail footprint under Ocean Pantry in Augusta. Adjacent brand extensions include the Winereef/Subsea Estate subsea wine aging venture and Ocean Signature wines.

The company is small (11–50 employees), family-anchored (Ricciardi family interests in WA fishing operations including Shark Bay prawns, the South West Trawl Fishery, and Fremantle City Coldstores), and led by a mix of operating directors and independent non-executives with backgrounds in energy, infrastructure and Big-Four advisory (Paul Italiano as Chairman; Ian Ricciardi as Director; Dimitri Bacopanos as Non-Executive Director). The November 2021 rebrand from Ocean Grown Abalone to Rare Foods Australia was framed as positioning the entity for broader growth beyond a single-species aquaculture platform, and is the most significant corporate strategic action in the record.

Name

Ocean Grown Abalone

Legal name

Ocean Grown Abalone Operations Pty Ltd

Website

https://oceangrown.com.au

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Rare Foods Australia (formerly Ocean Grown Abalone) runs the only MSC-certified wild enhanced abalone fishery in the world, producing premium Greenlip and Wild Roei abalone via a land-based hatchery and artificial reefs in a protected marine park in Augusta, Western Australia, selling through restaurants, DTC e-commerce and a retail storefront.

Ownership category

akta.pro rank

Product category

Premium Abalone Aquaculture

NAICS

Shellfish Farming (112512), Aquaculture (1125), Seafood Product Preparation and Packaging (3117), Fish and Seafood Retailers (445250)

SIC

Fishing, Hunting And Trapping (900), Prepared Fresh Or Frozen Fish & Seafoods (2092)

akta.pro primary industry

Marine Shellfish Farming (e.g., oysters, mussels, clams) (AFAEAAAB)

Keywords

• Abalone aquaculture
• Wild enhanced fishery
• Premium seafood products
• Marine ranching
• Sustainable seafood

Headquarters

HQ city

Fremantle

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Premium Seafood Products: Revenue from harvesting, processing and selling premium wild-caught abalone products under Two Oceans Abalone brand. Includes Greenlip Abalone and Wild Roei Abalone sold directly to consumers and restaurants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Ocean Grown Abalone (operating as Rare Foods Australia) produces and sells premium wild-caught abalone under the Two Oceans Abalone brand, including Greenlip Abalone and Wild Roei Abalone. The company operates the only MSC-certified wild enhanced fishery in the world, culturing abalone at a land-based hatchery before transplanting them to artificial reefs in a protected marine park in South West Australia, where they grow for 3–4 years in natural habitat before being harvested, processed, and sold to high-end restaurants, chefs, and individual consumers.

Product overview

Rare Foods Australia (formerly Ocean Grown Abalone) operates as an aquaculture and wild-enhanced fishery company producing premium abalone products. The company operates a unique land-based hatchery and uses artificial reefs in a protected marine park in South West Australia. The product portfolio consists of the Two Oceans Abalone premium brand, which includes two sub-brands: Greenlip Abalone and Wild Roei Abalone. The company holds MSC (Marine Stewardship Council) certification as the only MSC-certified wild enhanced fishery in the world.

Differentiator

Problem solved

Functional benefit

Brands

• Two Oceans Abalone: Premium wild-caught abalone brand featuring Greenlip Abalone and Wild Roei Abalone.
• Subsea Estate
• Ocean Pantry

Products and services

• Two Oceans Greenlip Abalone

Quantifiable outcome

• 3-4 year natural growth cycle in protected marine habitat
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor.

• Winereef / Subsea EstateminorStrategic or Co-development PartnerCollaborative partnership for ocean-cellared wine production. Winereef technology enables subsea wine aging 20 meters below surface on Australia's first Winereef in Augusta waters. Creates unique flavor profiles stirred by Southern Ocean currents.
• Ocean Pantry AugustaminorOthersRetail outlet in Augusta offering Ocean Signature wines and company seafood products. Physical location for customer purchases and brand experience.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Nissui (Nippon Suisan Kaisha): Major Japanese seafood and aquaculture conglomerate with global operations including salmon, tuna, and aquaculture. Comparable as a broad incumbent player in premium seafood with deep Asian distribution and abalone market presence.
• Maruha Nichiro: Japan's largest seafood company with extensive aquaculture operations including abalone, salmon, and tuna. Comparable as a broad incumbent in marine aquaculture and seafood processing with strong Asian market reach — a potential strategic acquirer or competitor in abalone.
• Mowi: World's largest Atlantic salmon producer, listed on Oslo Børs. Comparable as a globally dominant aquaculture company with strong ESG/sustainability positioning and broad premium seafood distribution.
• Thai Union Group: Global seafood leader (Chicken of the Sea, John West brands) with significant aquaculture exposure. Comparable as a broad incumbent with vertically integrated seafood operations and strong Asian and global distribution.
• Charoen Pokphand Foods: Thailand-based global aquaculture and food conglomerate (shrimp, fish, livestock). Comparable as a major Asian aquaculture incumbent with significant shrimp farming operations and global seafood distribution, relevant as a competitor and benchmark for Asian market penetration.

Direct peers

• Tassal Group: Australia's largest salmon aquaculture operator, ASX-listed (now owned by Cooke). Comparable as an Australian-listed aquaculture company serving domestic and Asian seafood markets with vertically integrated operations.
• Clean Seas Seafood: ASX-listed Australian aquaculture company producing premium Yellowtail Kingfish and Spencer Gulf Kingfish. Directly comparable as a small-cap, ASX-listed Australian aquaculture operator focused on premium seafood for export markets.
• Australis Aquaculture: Largest global producer of barramundi (Asian sea bass), operating in Vietnam with US distribution. Comparable as a premium-branded aquaculture company targeting Asian-inspired cuisine and US/Asian export markets.
• Huon Aquaculture: Tasmanian salmon and ocean trout aquaculture producer, ASX-listed (acquired by JBS). Comparable as an Australian premium aquaculture brand supplying domestic and Asian markets with vertically integrated farming and processing.
• Petuna Group: Tasmanian salmon and ocean trout producer and seafood processor. Comparable as a privately-held Australian premium aquaculture operator with similar export focus into Asian markets and integrated processing.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/oceangrownabalone
• LinkedInlinkedin.com/company/rarefoodsau
• Instagraminstagram.com/rarefoodsau

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ocean Grown Abalone