Deepwater fishing company Sealord has completed the acquisition of Independent Fisheries upon receipt of approvals from the Commerce Commission and Overseas Investment Office, along with satisfying other conditions.
The acquisition includes about 46,000 metric tonne of quota, one chartered and two owned deepwater factory fishing vessels, over 500 vessel crew and staff, and a cold storage facility.
This is the largest transaction in the seafood industry since Maori interests’ acquisition of a 50 per cent stake in Sealord in 1992.
Japanese company Nissui owns the other half of Sealord.
“Along with the recent acquisition by our 50 per cent shareholder Moana New Zealand of Sanford’s Annual Catch Entitlement (ACE) for much of its quota of North Island inshore species, this purchase of Independent Fisheries affirms Maori as major players in New Zealand’s fishing industry,” said Sealord board chair Jamie Tuuta.
“This transaction grows iwi quota ownership, enhancing our strong connection with the moana in Aotearoa.”
Independent Fisheries, which has the fourth-largest deepwater quota package in New Zealand, will continue to be operated by its employees after the acquisition.
