Post by account_disabled on Feb 19, 2024 23:44:48 GMT -5
Sealord has reached an agreement to acquire privately held Independent Fisheries. When completed, the deep-sea fishing company will be New Zealand's largest seafood business. Additionally, this will be the largest financial transaction in the fishing sector since the Sealord agreement in 1992 , which was part of the Māori Treaty Agreement.
The transaction is subject to the fulfillment of a series of conditions - including the authorization of the Trade Commission and the consent of the Overseas Investment Office - so the settlement date is not yet known and depends on when they are met. these conditions and approvals.
Based in Christchurch on New Zealand's South Island, Independent Fisheries includes approximately 46,000 metric tonnes of quota - New Zealand's fourth-largest deepwater quota package; two owned and one chartered deepwater factory fishing vessels; More than 500 crew and ship staff; and a cold storage facility. Once the transaction is completed and once within the Sealord Group, it will continue to be managed by its current employees.
Improving the connection with the moana in Aotearoa
Sealord CEO Jamie Tuuta said the company is an intergenerational fishing business, a position that will be further strengthened in the long term following the purchase of Independent Fisheries. “Our investment in Independent Fisheries is based on a strong belief in the business, the long-term sustainability of the commercial fishing sector in New Zealand and the a C Level Executive List bility to deliver greater returns to Sealord shareholders, half of whom are iwi,” He stated .
“Maori have a great affinity for moana, kaimoana and fishing. The fishing agreement that gives iwi ownership of the quota, including through the purchase of 50% of Sealord, underpins that cultural value system. “This transaction increases iwi’s dues ownership, enhancing our strong connection with Moana people in Aotearoa,” he continued.
An “incredibly unique” opportunity
For his part, Doug Paulin, CEO of Sealord, called ownership of the Independent Fisheries business an “incredibly unique” opportunity. He noted that acquisitions of this type and quality are rare in deep-sea fishing. “The business is a great fit for Sealord both operationally and culturally,” Paulin said.
« Independent Fisheries has a strong family culture built over many years by the late Charles Shadbolt , who had a passion for looking after his people and the wider community, and I am confident that Sealord can continue this proud tradition» , continued the CEO of Sealord. “We look forward to welcoming Independent Fisheries employees to the Sealord whānau.”
Immediate synergies between the two companies
For his part, Independent Fisheries CEO Mark Allison said this is a proud moment for the company and its founding family, who have built it from humble beginnings to the successful company it is today. He stated that the decision taken by the board of directors and owners will enhance the future growth of the company.
“There are immediate synergies that Independent Fisheries and the Sealord group of companies can utilize both internally and externally which will provide excellent opportunities for existing staff, customers and suppliers to grow with the Sealord group,” he said . “In practical terms, this means optimizing catch plans, logistics and innovation, with an emphasis on loyal customer service, which has been the backbone of the Independent Fisheries business since its inception,” concluded Allison .
About Sealord and independent fisheries
Sealord is one of the largest fishing companies in the southern hemisphere . Specialized in fishing, processing, distribution and marketing, it encompasses sustainable deep sea fishing and fish aquaculture operations and exports 90% of its catch in various frozen formats to 40 countries. With fishing operations in New Zealand, Australia and Mauritius, Sealord employs more than 1,000 people in New Zealand and 240 people overseas. The company collaborated with the New Zealand government to promote employment in the fishing industry.
Founded by Howard Shadbolt, Independent Fisheries had its beginnings as a small fish and chip shop in the Christchurch suburb of Linwood in 1956. Since then and under the management of the late Charles Shadbolt (Howard's son) and Mark Allison, Independent Fisheries has grown. into one of New Zealand's leading private fishing companies, with the fourth largest deepwater quota package in New Zealand.
The transaction is subject to the fulfillment of a series of conditions - including the authorization of the Trade Commission and the consent of the Overseas Investment Office - so the settlement date is not yet known and depends on when they are met. these conditions and approvals.
Based in Christchurch on New Zealand's South Island, Independent Fisheries includes approximately 46,000 metric tonnes of quota - New Zealand's fourth-largest deepwater quota package; two owned and one chartered deepwater factory fishing vessels; More than 500 crew and ship staff; and a cold storage facility. Once the transaction is completed and once within the Sealord Group, it will continue to be managed by its current employees.
Improving the connection with the moana in Aotearoa
Sealord CEO Jamie Tuuta said the company is an intergenerational fishing business, a position that will be further strengthened in the long term following the purchase of Independent Fisheries. “Our investment in Independent Fisheries is based on a strong belief in the business, the long-term sustainability of the commercial fishing sector in New Zealand and the a C Level Executive List bility to deliver greater returns to Sealord shareholders, half of whom are iwi,” He stated .
“Maori have a great affinity for moana, kaimoana and fishing. The fishing agreement that gives iwi ownership of the quota, including through the purchase of 50% of Sealord, underpins that cultural value system. “This transaction increases iwi’s dues ownership, enhancing our strong connection with Moana people in Aotearoa,” he continued.
An “incredibly unique” opportunity
For his part, Doug Paulin, CEO of Sealord, called ownership of the Independent Fisheries business an “incredibly unique” opportunity. He noted that acquisitions of this type and quality are rare in deep-sea fishing. “The business is a great fit for Sealord both operationally and culturally,” Paulin said.
« Independent Fisheries has a strong family culture built over many years by the late Charles Shadbolt , who had a passion for looking after his people and the wider community, and I am confident that Sealord can continue this proud tradition» , continued the CEO of Sealord. “We look forward to welcoming Independent Fisheries employees to the Sealord whānau.”
Immediate synergies between the two companies
For his part, Independent Fisheries CEO Mark Allison said this is a proud moment for the company and its founding family, who have built it from humble beginnings to the successful company it is today. He stated that the decision taken by the board of directors and owners will enhance the future growth of the company.
“There are immediate synergies that Independent Fisheries and the Sealord group of companies can utilize both internally and externally which will provide excellent opportunities for existing staff, customers and suppliers to grow with the Sealord group,” he said . “In practical terms, this means optimizing catch plans, logistics and innovation, with an emphasis on loyal customer service, which has been the backbone of the Independent Fisheries business since its inception,” concluded Allison .
About Sealord and independent fisheries
Sealord is one of the largest fishing companies in the southern hemisphere . Specialized in fishing, processing, distribution and marketing, it encompasses sustainable deep sea fishing and fish aquaculture operations and exports 90% of its catch in various frozen formats to 40 countries. With fishing operations in New Zealand, Australia and Mauritius, Sealord employs more than 1,000 people in New Zealand and 240 people overseas. The company collaborated with the New Zealand government to promote employment in the fishing industry.
Founded by Howard Shadbolt, Independent Fisheries had its beginnings as a small fish and chip shop in the Christchurch suburb of Linwood in 1956. Since then and under the management of the late Charles Shadbolt (Howard's son) and Mark Allison, Independent Fisheries has grown. into one of New Zealand's leading private fishing companies, with the fourth largest deepwater quota package in New Zealand.