Rūnanga Buys a Stake in Leigh Fisheries

Te Rūnanga o Ngāti Whātua has bought a 5.22 percent shareholding in Leigh Fisheries.

A rare opportunity arose to purchase shares in the highly successful export-led fishing company.

Leigh Fisheries is New Zealand's leading exporter of chilled fish, delivering fish within three days of being caught to markets in Europe, the United States and Japan.

The company exports species such as bluenose and hapuka from New Zealand but is involved in a number of international joint ventures including exporting fish to the United States from Asia.

Leigh Fisheries, success internationally, it's commitment to managing its fishery operations sustainably and its openness to strategic partnerships is seen as a good match for Ngāti Whātua's plans to expand its interests in fisheries.

The runanga has purchased the shareholding for $2.5 million.

Ngāti Whātua's shareholding will open up opportunities for both the iwi and Leigh Fisheries internationally, with the partnership with an indigenous people adding value to the company's brand values around sustainability and its tagline; Fresh, Wild and Natural.

Leigh Fisheries is valued at approximately $50 million and continues to be a profitable and growing concern.