Consumer brands conglomerate AVI, which owns household names such as Five Roses, Willards and Bakers, is weighing up options for its fishing business, I&J. Speaking at an investor presentation for the year to end-June results, AVI CEO Simon Crutchley said that with the 2020 long-term fishing rights allocations pending, I&J needed the right structure going forward. "There is significant work in play right now to examine which are our best options." The investor presentation referred to "testing I&J value realisation options" as part of a portfolio review, which fishing industry sources said might point to I&J selling all or part of its core hake fishing business. Crutchley said it was imperative to position I&J effectively for the 2020 fishing rights allocation process.In 2017, I&J’s hake fishing quota was reduced by 3,344 tonnes due to a lower total allowable catch and lower allocation of inshore rights. The hake fishing deep sea rights are in place until the end of 2020, with the r...
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