Iwi-owned Aotearoa Fisheries has bought part of the Auckland-based company Anton's Seafood.
Started in 1973, the firm owns a fishing quota, has a fleet of boats and runs wholesaling, processing and export operations.
The deal - to be finalised at the end of October - is a combined effort between Aotearoa Fisheries, Sealord and Te Ohu Kaimoana - the Treaty of Waitangi Fisheries Commission.
Aotearoa Fisheries will take over Anton's Seafood factory in Auckland's Mount Wellington, and all three organisations will share the fish quota - which covers one of the orange roughy fishing zones. Later, iwi will have the chance to buy some of the quota.
Chair of Te Ohu Kaimoana chairperson Matiu Rei says Aotearoa Fisheries will approach tribes over the coming months to talk about direct ownership of the quota.