Atman Group makes a strategic investment in Taprobane Seafoods

The Taprobane Processing Plant, Dankotuwa

Taprobane Seafoods, Sri Lanka’s largest and most integrated seafood company is excited to announce its partnership with the Atman Group.

The Atman Group is a multi-family office based in Sri Lanka and Asia focusing on emerging investment opportunities across Asia and building strategic partnerships.  The company’s business interests include investments in hospitality, leisure, agriculture, real estate, and renewable energy. 

Taprobane Seafoods is led by a vision to be the global leader in sustainable and socially responsible aquaculture based on high-quality standards, social responsibility, sustainability, integrity, and success. The company produces premium quality seafood products for iconic brands such as Whole Foods USA, which requires complying with stringent quality and sourcing standards. 

Taprobane is also the leader and pioneer of pasteurised blue swimming crab and SPF Vannamei shrimp and is the driving force behind Sri Lanka’s first-ever eco-recommended fishery and Asia’s first-ever blue swimming crab fishery in Palk Bay and the Gulf of Mannar.

Upholding sustainability, Taprobane is committed to sustainable packaging and encourages packaging material suppliers to comply with all applicable local and international laws and regulations. Through its commitment to community empowerment, Taprobane has always been at the forefront of ethical labour practices in the industry and over the past few years, has paid a great deal of attention to the working and living standards, well-being and sustainable development of its employees attached to its state-of-the-art processing facilities. The company sees this commitment as more than just corporate social responsibility (CSR), but a way in which both employer and workers can mutually benefit from a system that incorporates fair and sustainable practices.

“We are pleased to have partnered with the Atman Group as a strategic investor in our company,” said Taprobane Seafoods Managing Director Timothy O’Reilly. “We believe this partnership will enable us to further access investment pipelines and potential strategic partners in the future, whilst leveraging on the Group’s reach in key strategic markets. Global trends are indicating a preference for seafood as a healthy alternative and, we believe Taprobane Seafoods is ideally positioned to benefit from these consumer trends. We have already invested in growing capacity at over 70% to achieve complete supply chain integration. Given our strong emphasis on sustainability and ethical sourcing, Taprobane Seafoods and the Atman Group can look ahead with optimism.”

Commenting on this latest investment, Nathan Sivagananathan said, “We are delighted to partner with Taprobane Seafoods, the market leader in aquaculture in Sri Lanka.” 

During a visit to Taprobane’s Mannar operations, the Atman team was highly impressed with the company’s sustainable practices and its impact on local communities, especially war widows and the disabled. “We are confident this strategic investment will strengthen Taprobane’s foundation and further expand the company’s sustainable footprint into new markets. Taprobane was recently awarded the prestigious 3* status by Best Aquaculture Practices (BAP), the world’s leading certification authority in Aquaculture Practices. The company is on track to grow to $ 200 m and the Atman Group is proud to be associated with Taprobane on this journey” said Sivagananathan. 

Established in 2010, Taprobane Seafood has 15 processing facilities, employing over 2000 direct employees throughout the North-Western and Northern Provinces. Its uniqueness stems from the fact that all the employees who work in the processing plants in the north are women, from the security guard to the supervisors and managers including war widows who are the breadwinners of their families. The company also employs those with disabilities in a commitment to providing equal opportunities for the communities that live around its factories regardless of gender, race, or religion. 

Taprobane Seafoods began its success story with the committed and visionary leadership of Timothy O’Reilly, Dilan Fernando and Sathya Rathnayake. Thai Union Executive Chairman Cheng Niruttinanon - also sits on the board of directors of Taprobane Seafoods. Thai Union is the largest seafood company, globally, and its subsidiary, Chicken of the Sea Frozen Foods, the largest importer of crab and shrimp into the US market. Taprobane has also been certified by FSSC 22000 food safety standard and HACCP risk management system.