Primary Sector

Sanford sells crayfish quotas for $49.3m

Rebecca Howard
Fri, 29 Apr 2022

Sanford sells crayfish quotas for $49.3m
NZ has benefited from Australia's restricted access to China. (Image: Getty)
Rebecca Howard
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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