29 Sep 2020

Seafood company branches out into beauty industry

2:54 pm on 29 September 2020

The seafood company Sanford has taken a small step into the beauty products market.

Sanford seafood company.

Photo: Supplied / Sanford

It has taken a 50 percent stake in the health and beauty company, Two Islands, for an undisclosed sum.

The companies said the partnership would have mutual benefits, with Sanford producing marine collagen from Hoki fish, which Two Islands would use in its beauty products.

Two Islands founder, Julia Matthews said the partnership may seem unusual, but it is a natural pairing given the business opportunities and both companies commitment to producing sustainable products.

"We are so excited by the [partnership] because it will allow Two Islands to rapidly scale up our expansion plans through access to Sanford's global distribution channels, premium marine collagen, as well as increased research and development for new product development."

Matthews said the deal created a vertically integrated business that took raw materials from the ocean and delivered them to consumers, both locally and abroad.

Sanford's interim chief executive, Andrew Gargiulo, said the partnership is an example of Sanford's values in action.

"Sanford has always emphasised the importance in both a financial and an environmental sense of making the best use of every gram of material that we harvest."

"The more we study this fantastic resource that is New Zealand seafood, the more opportunities like this we find," he said.

Matthews would continue on as the head of Two Islands.

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