Leading Western Australia pearl business for sale

One of Western Australia’s leading pearl businesses is being offered for sale.

CBRE Agribusiness has been appointed to sell Abrolhos Pearls WA, with its showroom business based in Geraldton and the Abrolhos Islands.

The offering includes a licence to operate a hatchery at Coronation Island, island camps, vessels, barge, jetty, operating equipment and seeding and storage rooms, as well as a 122 square metre freehold show room in Geraldton.

The sale also includes the business’ retail arm, Chimere Pearls – a showroom and online store selling a range of Chimere pearl jewellery.

CBRE’s Phil Melville said the sale represented a unique opportunity to gain a footprint in the pearling industry. 

“This sale represents a unique opportunity to gain a presence in Western Australia’s pearling industry – the state’s second most valuable fishing industry after rock lobster, valued at around $67 million,” Melville said.

“We anticipate interest from investors wanting to take advantage of online platforms to create niche markets for the specialised jewellery sector, as well as a presence in one of the world’s most pristine environments.”

The Abrolhos Islands comprise 122 islands approximately 60 kilometres west of Geraldton on Western Australia’s mid-west coast. The islands’ extensive reef is renowned for its tropical and temperate sea life, which forms one of the state’s unique marine areas.

Abrolhos Pearls WA was established in 1998, with the first culturing experiments undertaken in 1998, and subsequent first pearl harvest 12 months later. The first commercial harvest of culture pearls was released in 2000.