Fishing company Sanford Ltd has received clearance from the Commerce Commission to acquire Pacifica Seafoods Group.Pacifica, which is part of the Skeggs Group of companies, is an aquaculture business which is focused primarily on mussels, as well as havin
Fishing company Sanford Ltd has received clearance from the Commerce Commission to acquire Pacifica Seafoods Group.
Pacifica, which is part of the Skeggs Group of companies, is an aquaculture business which is focused primarily on mussels, as well as having some salmon and oyster operations of companies.
The commission's investigation focused mainly on the farming and processing of Greenshell mussels in the South Island, although it also considered the production of king salmon as well as Pacific oysters.
Commission chairman Mark Berry said the commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
The commission was satisfied there would be sufficient competitive constraint provided by existing competitors in respect of all of these products.
The companies making up the Pacifica Seafoods Group are Pacifica Seafood (Christchurch) Ltd, Marlborough Mussel Co Ltd, Aqua King Ltd, Pacifica Seafoods (Dunedin) Ltd and ITQ Management Ltd.
