New Zealand’s Mount Cook Alpine Salmon has purchased domestic rival Aoraki Smokehouse Salmon for an undisclosed sum.
Mount Cook Alpine Salmon (MCAS) and Aoraki Smokehouse Salmon both operate freshwater king salmon farms on canals in the MacKenzie District on New Zealand’s South Island. MCAS has a production capacity of 1,000 metric tonnes while Aoraki is capable of producing nearly 600 MT of salmon annually.
“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,” MCAS Chief Executive David Cole said in a press release. “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 said the combined company will employ more than 150 staff at its two hatcheries, its farms, a modern Timaru processing plant, and the Christchurch-based Aoraki smokehouse business.
MCAS Chairman Jim Bolger said consolidation of the freshwater salmon farming industry in New Zealand was a positive step both for the companies involved and the industry overall.
“This consolidation is an important milestone in building an iconic New Zealand business,” Bolger said. “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.”
Cole said some employees of the combined company may lose their jobs as the operations are combined.
“Over time there will be some restructuring as we integrate the combined company operations but, for the moment, it will be business as usual,” Cole said. “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.”
The future is bright for the new entity, Cole said, as demand continues to rise for high-end salmon products.
“Demand for freshwater king salmon is growing rapidly both nationally and internationally,” he said.” 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.”
