The Commerce Commission has received a clearance application from Aotearoa Fisheries Limited trading as Moana New Zealand seeking clearance to acquire Sanford Limited's North Island inshore fishing business. Under the proposed acquisition, Sanford Limited would lease its North Island inshore fishing quota (specifically its annual catch entitlement) to Moana under a long term arrangement.
Moana is a commercial fishing company with several different fishing operations including inshore fishing as well as oyster and paua harvesting. In addition, Moana has a 50% shareholding in Sealord Limited, which is also a commercial fishing company.
Sanford Limited is also a commercial fishing company with several different fishing operations including inshore and deepwater fishing as well as mussel and salmon farming businesses.
A public version of the clearance application will be available shortly on the Commission's case register.
Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
