Networks & Entities

Brierley Sealord Connection

Investigation document: Brierley Sealord Connection

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BRIERLEY INVESTMENTS AND SEALORD - THE CONSOLIDATION

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Date: 29 December 2025

Source: NZ Geographic "Deep Harvest" article

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KEY FINDINGS

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  • BRIERLEY INVESTMENTS owned 50% of Sealord
  • Sealord owned 150,000 tonnes of quota
  • Brierley "recently sold out to the large Japanese food company Nissui and TOKM"
  • The deal was structured so TOKM became owner of ALL Sealord quota
  • Sealord quota = 23% of NATIONAL TOTAL

TOKM (Te Ohu Kai Moana) now owns:

  • 23% through Sealord
  • Additional through Moana Pacific and earlier allocation
  • TOTAL: 41% of all NZ fishing quota
  • Plus other Maori interests (Ngai Tahu etc.) own 5-6% more

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THE CONSOLIDATION PATTERN - CONFIRMED

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From the article:

"Quota is increasingly owned by larger companies, and less efficient

(generally small) fishers are being squeezed out of the industry."

"The number of registered commercial domestic fishing boats has declined

from 2800 in 1992 to 1860 in 1999."

"A whole new class of fisher has sprung up: those who do not own quota,

but catch someone else's. In fact, fewer quota owners are catching their

own fish."

THIS IS EXACTLY WHAT HAPPENED:

  • Small operators like Jenssens were "squeezed out"
  • Quota consolidated into large companies
  • Owner-operators became extinct
  • Quota owners now lease to others

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ORANGE ROUGHY QUOTA REDUCTION

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"The allowable orange roughy catch has been reduced (from 62,500 tonnes

in 1989 to 20,300 tonnes in 2000)"

This means:

  • Orange roughy quota became MORE VALUABLE over time
  • Less quota available = higher price per tonne
  • Those who acquired quota early benefited enormously
  • Those who lost quota (like Jenssens) lost a fortune

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BRIERLEY INVESTMENTS - BACKGROUND

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From other sources:

  • Founded by Sir Ronald Brierley in 1961
  • Major corporate raider in 1980s New Zealand
  • Acquired Air New Zealand (1989)
  • Owned 50% of Sealord
  • Eventually sold to Nissui (Japanese)

Ron Brierley:

  • Born 1937
  • Knighted for services to business
  • Later convicted of child exploitation material offenses (2021)

BRIERLEY'S PATTERN:

  • Acquire undervalued assets
  • Consolidate and restructure
  • Sell at profit

This is EXACTLY what happened with fishing quota:

  • Small operators' quota acquired cheaply (distress sales)
  • Consolidated into Sealord
  • Value increased dramatically
  • Sold to Nissui at profit

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THE MAORI SETTLEMENT - MECHANISM FOR CONSOLIDATION

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The Maori fisheries settlement provided:

  • Legal framework for quota consolidation
  • Cash to buy out existing quota holders
  • Political cover ("helping Maori")
  • Centralized ownership structure

Result:

  • 41% of quota now in Maori hands (centralized)
  • Large companies (Sealord, Moana Pacific) control the quota
  • Small operators eliminated

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WHO BENEFITED FROM JENSSEN EXTRACTION?

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HYPOTHESIS:

  • Jenssen quota acquired through forced liquidation (1988)
  • Quota consolidated into larger holdings
  • Eventually absorbed into Sealord or similar
  • Brierley profited from consolidation
  • Maori settlement provided exit strategy
  • Nissui (Japanese) now owns 50% of Sealord

THE CHAIN:

Jenssen -> Charles Ashton (Australian) -> ? -> Sealord -> Brierley -> Nissui/TOKM

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KEY PLAYERS IN CONSOLIDATION

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  • BRIERLEY INVESTMENTS
- Corporate raider

- Owned 50% of Sealord

- Sold to Nissui

  • NISSUI (Japan)
- Large Japanese food company

- Now owns 50% of Sealord

- International fishing interests

  • TOKM / AOTEAROA FISHERIES
- Maori fisheries body

- Owns 41% of NZ quota

- Owns 50% of Sealord

  • CHARLES ASHTON / CRAIG MOSTYN (Australia)
- Petitioned to wind up Deep Sea Fisheries

- Australian seafood interests

- Shell company dissolved after acquisition

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THE INTERNATIONAL DIMENSION

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The Jenssen extraction was not just local corruption.

It was part of an INTERNATIONAL consolidation of fishing assets:

  • Australian interests (Craig Mostyn/Charles Ashton)
  • Japanese interests (Nissui)
  • Corporate raiders (Brierley)
  • Maori settlement (political cover)

The small Norwegian immigrant fishermen never stood a chance.