Armillary, our New Zealand Partner, proudly facilitated the sale of Independent Fisheries Limited to Sealord Group Limited, a joint venture between New Zealand-based Aotearoa Fisheries Limited (100% iwi owed) and Japanese-domiciled Nissui Corporation. 

This landmark transaction marks a significant moment in New Zealand's fishing industry and solidifies Sealord as the country's largest fishing company and one of the largest in the Southern Hemisphere. 

Led by Peter Bosworth and David Wallace, the Armillary team played a pivotal role in the success of this transaction, including Jono Sloan, and Jai Goradia. 

Independent Fisheries, with a history of 63 years, originated as a fish and chip shop in Christchurch's Linwood suburb run by Howard Shadbolt. Since that time and under the management of the late Charles Shadbolt and Mark Allison, it evolved into the second largest privately-owned deep-sea fishing company operating in New Zealand, vertically integrated from harvest to consumer. It had a reputation for delivering a high standard of product and market outlier for profitability, exporting to major markets in China, Japan, South Africa, and Eastern Europe.

The transaction encompassed the fourth largest quota package in New Zealand with 46,000 metric tons of quota, one chartered and two owned deep sea factory fishing vessels, over 500 crew, and a cold storage factory based in Christchurch, South Island, New Zealand.

Armillary worked closely with highly regarded firms Grant Thornton (Accounting) and Chapman Tripp (Legal), showcasing the strength of collaboration in achieving a seamless and successful transaction after receiving offers from multiple domestic and international counterparties. As one of the major stakeholders involved in acquiring Independent Fisheries was offshore, approval from New Zealand’s Overseas Investment Office was required. Furthermore, due to the size of the quota package, the New Zealand Commerce Commission also had to approve an assessment of the impact on competition in the market. 

This strategic acquisition not only strengthens Sealord's position but also marks a testament to the expertise, collaboration, and industry insight brought together by Armillary, Grant Thornton, and Chapman Tripp.