Two fisheries are joining to form the largest Māori-owned lobster processing business in the country.
From April next year Aotearoa Fisheries' lobster division will join together with Port Nicholson Fisheries to process and export their live lobster.
The collaboration is the result of four years of discussions derived from the Koura Inc project, which advocated for Māori lobster owners to work together throughout the lobster value chain.
The new partnership will process 650 tonnes of lobster quota which is 23 percent of the country's total live lobster exports.
Aotearoa Fisheries chief executive Carl Carrington said the merger was not just about increasing revenue.
"From our perspective we think it's a significant milestone for Māori business and the New Zealand seafood industry and it does demonstrate the power of collaboration amongst iwi."
Mr Carrington said collaboration was the way forward for New Zealand industries competing in global markets.