Sealord has sought clearance from New Zealand’s Commerce Commission to take over the fishing business of Independent Fisheries.
Sealord Group is one of the largest seafood businesses in the Southern Hemisphere, with more than 1000 employees. It is equally owned by Māori through Moana New Zealand and Japanese seafood giant Nissui
The move follows Moana NZ’s recent acquisition of Sanford’s North Island inshore fishing business, signalling its strategic expansion in the seafood sector.
Under the proposed acquisition, Sealord would acquire all Independent Fisheries shares, including its annual catch entitlement, and other assets, including quota, premises, plant, equipment, and related entities.
Like Sealord, Independent Fisheries is also one of the largest deepwater fishing companies in New Zealand, with more than 500 staff and vessel crew.
Both entities primarily harvest, process, and supply various finfish species, with most of their catch being processed and exported.
The application for clearance will be reviewed by the Commerce Commission to assess its potential implications on competition within the sector.
