Three native New Zealand companies have joined forces to buy a significant stake in New Zealand's king salmon farming industry.

Ahi Mokopuna is a joint venture between Ngati Porou Seafoods, Te Kahui o Onuku and Archipelago Capital Management, which has bought 84 percent of Akaroa Salmon.

Akaroa harvests sea-reared king salmon from Akaroa Harbour and processes and distributes the salmon on the same day from its Christchurch factory.

Duncan Bates, son of original owner Tom Bates, retains the remaining 16 percent of shares in the company, which was founded in Lucas Bay in the early 1980s.