Iwi-owned fishing company Moana New Zealand and Sanford have announced that they have signed a long-term agreement regarding Sanford's North Island inshore fishery. The agreement between the largest fishing companies in New Zealand is expected to be effective later this year, despite specific requirements.
This is how the companies announced the agreement reached in the North Sanford area related to inshore fisheries, which are those out to 12 nautical miles from the coast. Although still subject to the fulfillment of certain conditions, including approval by the New Zealand Commerce Commission, Moana will acquire the annual catch entitlement (ACE) from Sanford for much of its quota of North Island inshore species. Thus, Moana will also take over the catching, processing, and selling of fish using this ACE.
Moana New Zealand is the largest Maori-owned fishing company in Aotearoa. It is currently in a privileged position to take on additional catch and processing volumes. This success can be seen by its history in coastal operations, perishable supply chain management, and upgraded facilities built with growth at the forefront.
Sanford's auction operations and Sanford & Sons retail business will remain operational, with support from Moana. Under the new arrangement, Sanford will continue to sell its products in export markets like Australia and the US.
Steve Tarrant, Moana CEO, said there are two secrets to their success: strong market associations and, above all, people. "We're extremely proud of our inshore whānau who hold a wealth of knowledge, experience, and expertise right across the supply chain."
He also explained that this agreement is a further step in the company. "This additional capacity provides opportunities for Māori beyond just fishing. It brings scale which will enable investment in innovation and science that align with our values of kaitiakitanga and manaakitanga and that's exciting."
For his part, Peter Reidie, CEO of Sanford, said Sanford sought the proposed deal with Moana after a thorough review to turn around its North Island coastal operations.
"We signaled some time ago that we have been looking at ways to turn around this part of our operations. The long-term agreement with Moana will enable them to fish and process inshore species to scale in the North Island. Sanford's North Island inshore operations represent a relatively small part of our business, but this proposed deal will reduce the negative impact these operations are currently having on Sanford's bottom line."
And he also added that Moana is the perfect match. "[It] shares our values around sustainable fishing. We have worked with them in the past on several environmental projects and advances in fishing technology, so we know their emphasis on kaitiakitanga and fishing for the future. Sanford retains its fishing quota in this agreement and with it our interest and involvement in the fishery."
Moana New Zealand is the largest Māori-owned fisheries company in Aotearoa. Therefore, the company values responsibility, respect for kaimoana, and the welfare of future generations. Finally, it shares New Zealand's finest kaimoana with the world.
Sanford is New Zealand's largest seafood company, engaged in salmon and mussel farming, and holds almost 20% of the country's commercial fishing quota. Being the oldest listed company in New Zealand, Sanford has been listed on the New Zealand Stock Exchange since 1924. With a strong emphasis on sustainability, the company endeavors to optimize the value of the resources sourced from Aotearoa's oceans. Sanford has operations spanning 15 locations and employs a committed workforce of 1,400 staff members and share fishers.
