Aotearoa Fisheries – also known as Moana New Zealand – has received clearance from the Commerce Commission to acquire Sanford’s North Island inshore fishing business.
Both companies supply fresh fish caught using the annual catch entitlement (ACE) derived from fishing quota.
In this agreement, Sanford will not sell any of its quota but will lease the ACE related to its North Island inshore fishing business to Moana under a long-term arrangement, resulting in the latter having a larger allocation of ACE share for certain species.
Division chair Dr Derek Johnston explained that in making its assessment, the Commerce Commission considered if the proposed acquisition would significantly reduce competition in any New Zealand market, including supplying popular species of inshore fresh fish to wholesalers and retail customers.
“Whether the acquisition proceeds or not, Sanford is likely to close its processing facility in central Auckland and sell its North Island inshore ACE,” he concluded.
“As a result, the Commission considers that there would not be a substantial difference in the aggregation of ACE entitlements with and without the proposed acquisition.”
In due course, a public version of the written reasons for the decision will be available on the commission’s case register.
