The Commerce Commission today cleared Sanford to acquire the scampi quota of Auckland-based Simunovich Fisheries, it said in a statement.

The commission said it found the quota allocation was not likely to lessen competition in the markets for the catch and domestic wholesale supply of scampi, it said.

Sanford bought Simunovich in October last year for $137 million, excluding the Scampi quota.

Sanford shares last traded at $4.65 yesterday, having ranged between $4.00 and $5.60 in the past year.

- NZPA