Sanford to sell ‘underperforming’ inshore fishing business
Moana NZ will buy Sanford’s North Island catch entitlements, two vessels and a marine farm.
Sanford is closing its Auckland fish processing plant as part of the ACE sale.
Fishing company Sanford has announced the conditional sale of North Island annual catch entitlement (ACE) for at least 10 years to iwi-owned rival Moana New Zealand.
The sale will net Sanford $11 million to $13m a year for five years, with the fee increasing at 1.5% a year thereafter.
Sanford said it
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