Fisheries Trust Purchase Bay Packers

The trustees of Ngati Ranginui Fisheries Trust are pleased to announce that its asset holding company Ngati Ranginui Fisheries Holding Company Limited, has signed a limited partnership agreement to acquire the business and assets of Bay Packers (NZ) Ltd and Petromont Export Limited. Petromont Export is an export business focused on tuna/swordfish and some other finfish along with scampi. Bay Packers (NZ) Ltd is a processing operation based in Mount Maunganui, Tauranga, which processes the export product on sold to Petromont Export; a smoking business with product currently sold domestically and a domestic inshore finfish business with a small retail shop on the premises.
Chairman Mr Chris Stokes says, “We are extremely excited and grateful to Moana New Zealand to be able to participate in this local business opportunity and to leverage off their knowledge and expertise going forward. Also to have partners who share our values. Together we will achieve our long term vision and strategic investment in the fisheries industry. This acquisition allows a sustainable future moving forward for future generations”.
Our other partners are:
 Aotearoa Fisheries Limited (trading as Moana New Zealand)
 Ngati Tuwharetoa Fisheries Holdings Ltd
 Te Arawa Fisheries ICP Ltd
 Te Pataka o Tangaroa Ltd (Nga Rauru)
The name of the partnership is Bay Packers Limited Partnership with each partner holding a 20% interest in the shares of Bay Packers Limited Partnership and of the general partner, Awanui Moana General Partner Limited. Each partner also has the right to appoint one director to the general partner. Your trustees have appointed Bill Evaroa as their director to the board of Awanui Moana General Partner Limited. Settlement date is set for 20th April, 2018.