Ngāi Tahu Holdings agrees to sell remaining Sanford shareholding

Ngāi Tahu Holdings has agreed to sell its remaining shareholding in Sanford Limited to Umios, an existing Sanford shareholder and one of Japan's leading seafood companies.

The transaction represents Ngāi Tahu Holdings' exit from Sanford following the partial sell-down announced in June.

Umios will purchase 9,638,100 Sanford shares. Following the transaction, Umios’ shareholding will increase from 5.2% to 15.5%.

Ngāi Tahu Holdings Chief Executive Todd Moyle says the transaction followed an unsolicited approach from Umios to acquire its entire remaining 10.3 per cent shareholding in Sanford.

"Sanford has been a successful investment for Ngāi Tahu Holdings and our confidence in the company has not changed.

“While we were comfortable remaining a shareholder, this unsolicited approach represented an attractive opportunity to realise value from a successful investment and increase our flexibility to pursue other opportunities across our portfolio.

"Kaimoana remains culturally and economically important to Ngāi Tahu. While we're exiting this investment, we're not exiting the seafood sector. We will continue to have significant interests through Ngāi Tahu Seafood."

Todd Moyle said the sale also reflected the strength of Sanford's business and future prospects.

"Umios has been a Sanford shareholder since 2016 and is a longstanding player in the global seafood industry. The fact Umios was prepared to acquire our entire remaining shareholding highlights the quality of the business and the value it sees in Sanford's future."

Settlement of the sale is scheduled for Monday 2 November 2026.