Ahi Mokopuna is the name of a new joint venture partnership that bought a significant stake in the aquaculture industry sustainably growing sea-reared King Salmon.
Three partners, Ngati Porou Seafoods Ltd, Te Kahui o Onuku and Archipelago Capital Management Ltd, purchased 84% of Akaroa Salmon Ltd.
Akaroa Salmon Ltd, harvests sea-reared King Salmon from Akaroa harbour and processes and distributes the salmon on the same day from its Christchurch based facility. Akaroa Salmon is available for purchase at the Wainui wharf for those lucky enough to be enjoying Akaroa Harbour and outlets in Christchurch, Queenstown, and Auckland.
Duncan Bates, son of original owner Tom Bates retains the remaining 16 % of shares in the company, founded in Lucas Bay on the Akaroa Harbour in the early 1980s.
The first King Salmon pens was built by hand with the help of local fishermen. Over the past four decades, the business has survived severe storms, market crises, supply shortages and other challenges.
However, the new joint venture partners are delighted with the purchase and the potential to develop Akaroa Ltd further. Dean Moana, director of both the Ngati Porou Holding Company and the newly formed Ahi Mokopuna partnership, is excited about the new joint venture.
“We have invested because it’s a good business with lots of potential. The product is superior; the partners are all aligned, allowing Ngati Porou to diversify our investments geographically and step into aquaculture.”
Ahi Mokopuna was launched on Friday 17 December 2021, in Christchurch after a powhiri at Onuku Marae. The launch was an auspicious occasion, rekindling ties. Amongst the manuhiri supporting the partners were a small group of Ngati Porou taurahere from Christchurch and Akaroa Salmon Ltd founder Tom Bates.
Ahi Mokopuna Directors held their first board hui and look forward to carving a sustainable economic, environmental, and cultural future for our future generations.
Ahi Mokopuna encompasses the connection between the partners; some principles of this whakawhanaungatanga are.
• Commit to sustainable environmental practices considering the local environment and local stakeholders.
• Have an intergenerational view and approach to business strategies that focus on growing and expanding salmon production within environmental boundaries.
• Use this investment to contribute to the growth, development, and employment opportunities for Ōnuku and Ngati Porou people.