Sanford sells crayfish quotas for $49.3m

NZ has benefited from Australia's restricted access to China. (Image: Getty)

Fri, 29 Apr 2022

Sanford has sold its spiny rock lobster quota in two fisheries management areas for $49.3 million.“We concluded that our lobster quota did not provide the best return on investment and the value realised from this quota sale will be reinvested in the business,” said chief executive Peter Reidie.The company told the market in February that it was exploring options for its crayfish quota, which it fishes and manages through third parties.The sale will “help improve shareholder value by contributing to the significant invest...

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