Yellow Brick Road, a seafood distribution company that prides itself on its specialized sustainable and ethical seafood, has been purchased by Wakatū Incorporation’s subsidiary.
Wakatū pursued the acquisition as the behest of shareholders' commitment to kaitiakitanga; shareholders were so impressed with the company that they’ve even appointed Yellow Brick Road’s previous owner Rachel Taulelei as chief executive for Kono NZ, Wakatū Incorporation’s food group. She will replace Don Everitt in the role. What’s more, top chef Martin Bosley is also staying on board as general manager.
"The concept is we're here for a moment - many people have come before us and many, many people will come after us," said Taulelei to Radio New Zealand News. "And the best that we do is leave the resources that we're entrusted with, which in this case is the kaimoana in the best condition in which we can, and if at all possible in an even better condition than we found it."
Both Yellow Brick Road and Wakatū Incorporation share a similar set of governing principles, which made them an ideal fit for one another according to Wakatū chairman Paul Morgan: "We've got a number of brands we own ourselves with significant brand presence and as we look towards developing our businesses around the globe we want to have, obviously, a brand awareness of our products and services. So it's exciting that we've got a person of that capability who knows how to go about the social media and the connectedness with consumers out there online," Morgan explained to Radio New Zealand News.
New general manager Martin Bosley will now be responsible in assuring that Yellow Brick Road’s standards are maintained – the company shoots to get its fish and seafood off the boat within 36 hours. His coworker Taulelei believes he has what it takes to succeed in his new position.
"He loves seafood. He understands the business across the board so I think that he's really excited to sink his teeth into a new project, and it'll be a pretty interesting conversation between him and the other chefs, and I think he'll be a really good one," said Taulelei to Radio NZ.
With an asset base of NZD 270 million (USD 172 million; EUR 154 million) and nearly 4,000 shareholders associated with four hapū at the top of the South Island, Wakatū Incorporation employs roughly 500 people in the Nelson and Marlborough area.
