The Commerce Commission has granted clearance for Sanford Limited to acquire the five companies that together make up the Pacifica Seafoods Group of companies.  

Commerce Commission Chair Dr Mark Berry said the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

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. However, Dr Berry said that the Commission was satisfied that there would be sufficient competitive constraint provided by existing competitors in respect of all of these products.

A public version of the written reasons for the decision will be available as soon as practicable on the Commission's website at www.comcom.govt.nz/clearances-register  

Background

Sanford Limited is a publicly listed fisheries company based in Auckland. Sanford is involved in fin fishery operations as well as the farming, processing and wholesaling of a variety of aquaculture species including mussels, oysters and salmon.

The Pacifica Seafoods Group is the aquaculture operation of the Skeggs Group of companies and is involved in mussel, oyster and salmon farming, processing and wholesaling operations. The five companies that, together, constitute the Pacifica Seafoods Group are Pacifica Seafood (Christchurch) Limited, Marlborough Mussel Co Limited, Aqua King Limited, Pacifica Seafoods (Dunedin) Limited and ITQ Management Limited.