Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Freshwater Salmon Industry Consolidates

September 6 2016

Freshwater Salmon Industry Consolidates


Queenstown-based Mount Cook Alpine Salmon (MCAS) has announced the purchase of South Canterbury salmon company, Aoraki Smokehouse Salmon Ltd.

Both companies operate Freshwater King Salmon farms on the South Canterbury hydro canals in the MacKenzie district.

MCAS has a current production of just over 1000 tonnes of salmon and Aoraki produces just under 600 tonnes of salmon a year.

“The purchase is a logical step in the growth of the business with the majority of MCAS production going to high-end overseas customers, while Aoraki’s production, particularly its sought-after smoked salmon products, is highly regarded in the domestic market,” says MCAS Chief Executive, David Cole.

“It’s an exciting step that will underpin New Zealand’s Freshwater King Salmon production, strengthen an emerging aquaculture industry in regional New Zealand, and expand the range of offerings to customers both domestically and around the world.”

Cole says the combined company will employ more than 150 staff across its two hatcheries, salmon farm operations, a modern Timaru processing plant, and the Christchurch-based Aoraki smokehouse business.

“Over time there will be some restructuring as we integrate the combined company operations, but for the moment, it will be business as usual.

“The goal is to have a sustainable, successful business in the central South Island – an outcome that we’re confident will bring positive change and opportunities.

“Demand for Freshwater King Salmon is growing rapidly both nationally and internationally. We are building a luxury brand being sold through the highest-ranking food stores in the world, and featuring on discriminating menus at high class establishments.

Freshwater King Salmon is much coveted for its clean, consistent, subtle and refreshing taste.

MCAS chairman, the Rt Hon Jim Bolger, says the consolidation is an important milestone in building an iconic New Zealand business.

“We need to bring scale to meet the demand from our expanding international customer base, and it makes good commercial sense to bring together the two major producers that grow this special Freshwater King Salmon product,” he says.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>

ALSO:

Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>

ALSO:

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO: