New Zealand Maritime Index

Source: New Zealand Marine News
Reference ID:53010021
Publisher:New Zealand Ship and Marine Society
Title: Nautical News: Talley's Purchases the Whole of Amaltal
Author: Pryce, Michael
Abstract: On 7th January 2005 it was announced that Auckland’s Goodfellow family had sold a fifty per cent stake in New Zealand’s third largest fishing company, Amaltal, to fifty/fifty joint-venture partner Talley's Fisheries, of Motueka. The deal was finalised just before Christmas but was not publicised. The vendor was Amalgamated Marketing, a subsidiary of Amalgamated Dairies, an investment vehicle of the Douglas Goodfellow family. The sale price was not disclosed but conservative estimates within the fishing industry start in the tens of millions of dollars. The parting of the ways came twentytwo years after Amaltal was launched in Nelson. Amaltal’s assets include a seven per cent share of the country’s total fishing quota, according to the Ministry of Fisheries, a seventeen per cent share of the hoki quota, a fleet of 60-metre-and-longer freezer trawlers and Nelson waterfront land and facilities.

Port Nelson-based Amaltal operates a fleet of ten fishing vessels, including five freezer trawlers, and has 295 shore and seagoing staff. Trawlers include AMALTAL ATLANTIS (1,899 gross tonnage, built 1991), AMALTAL COLUMBIA (1,899 gross tonnage, built 1992), AMALTAL ENTERPRISE (2,412 gross tonnage, built 1988), AMALTAL EXPLORER (1,386 gross tonnage, built 1986), AMALTAL MARINER (555 gross tonnage, built 1996) and AMALTAL VOYAGER (321 gross tonnage, built 1979). Talley’s and joint-venture partner Amalgamated Marketing set up the business in 1982. According to the Rich List, the Talley family is worth $160 million.

In December 2004 Timaru’s Brian Kenton sold the fishing assets of his companies, the trawlers OCEAN PIONEER (317 gross tonnage, built 1994) and MARIA LOUISA (83 gross tonnage, built 1983) and 3,500 tonnes of fish quota to Talley’s Fisheries. Mr. Kenton declined to disclose the value of the sale but agreed it was in the "multi-millions". He was the largest private owner of fish quota. As well as its fishery assets, Talley’s Fisheries has a large frozen foods business, several mussel farms, a truck fleet, a large share of the scallop industry, and six market gardening operations for its vegetable-processing factories. More than ninety per cent of its fish catches in New Zealand waters is exported. However, high fuel costs, low unemployment, poor catches of some fish, and government levies are squeezing finances. [Complete article]

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