Iwi-Owned Fishing Company Moana New Zealand Is Buying The North Island Inshore Catch Rights From Rival Sanford

Iwi-owned fishing company Moana New Zealand is buying the North Island inshore catch rights from rival Sanford, making it the largest inshore fisheries company in Aotearoa. The Commerce Commission approved the deal that will see Moana lease the catch entitlement from Sanford for at least 10 years. Sanford will retain ownership of the quota. Inshore fisheries are those out to 12 nautical miles from the New Zealand coast. Under the deal, Moana will take over the catching, processing and selling of fish with processing at its Auckland plant. For Sanford the inshore rights was an unprofitable part of its business and Moana Chief Executive Steve Tarrant says Moana is exceptionally well placed to take on the additional catch and processing volumes with its proven track record of success in inshore operations and with upgraded facilities built with growth in mind.