Sealord, New Zealand's largest seafood company, has entered into an agreement to acquire privately-owned Independent Fisheries.

Independent Fisheries has grown into one of New Zealand's major privately-owned fishing businesses, with the fourth largest deepwater quota package in New Zealand, according to Sealord.

Subject to satisfying a number of conditions, including clearance from the Commerce Commission and consent from the Overseas Investment Office, Sealord will acquire the Christchurch-based Independent Fisheries business, which includes approximately 46,000 metric tons of quota, two owned and one chartered deepwater factory fishing vessels, 500-plus vessel crew and staff, and a cold storage facility.