Sanford enters conditional deal to sell Tauranga-based fishing business

Sun, 18 Nov 2018

By Rebecca Howard Nov. 19 (BusinessDesk) - New Zealand seafood company Sanford is opting to reduce its quota holding to focus on value as it enters a conditional deal to sell its Tauranga-based fishing business to local company Pelco NZ. No price was disclosed but the deal includes three purse seine vessels, some processing equipment and a portion of its pelagic quota holding, mainly in Fishing Management Area 1, which represents 3.75 percent of Sanford’s quota asset value or around $15 million dollars based on its quota book value of $4...

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