Monday 22nd July 2019
|Text too small?|
The kiwifruit crop in Northland's Kerikeri area will increase by "more than a third" following Overseas Investment Office permission for agriculture investor Craigmore Sustainables to spend $32 million developing some 137 hectares of horticultural land and offering 29 new jobs.
Craigmore raises its investment capital offshore but is run by New Zealanders. It was founded by farmer businesspeople Mark Cox and Forbes Elworthy, the son of Sir Peter Elworthy, one of the leading agricultural lobbyists of his day as head of Federated Farmers leader during the tumultuous primary sector reforms of the 1980s.
German, Hong Kong, Swiss, British, Finnish, American and New Zealand investors have invested in Craigmore's Permanent Crop Partnership, with the company tapping UK and German investment banking and agricultural sector experts who bring an international perspective to the opportunities in New Zealand agriculture.
The latest investment follows a $52 million apple orchard development in Hawke's Bay and Gisborne, with Craigmore focusing on "key central and northern regions" of New Zealand's North Island.
The fund has $50 million unspent and Craigmore is "openly looking for minority investments in existing horticultural businesses," Craigmore chief executive Che Charteris said in a statement.
No comments yet
Rio Tinto decision following strategic review of Tiwai
Contact says smelter closure is ‘disappointing’
South Port (SPN) Statement on NZAS Tiwai Point Aluminium Smelter Closure
Rio Tinto announcement on Tiwai Aluminium Smelter
Me Today announces equity raising to accelerate growth
Scott Technology Trading Update; Rising to the COVID Challenge
New non-binding indicative offer received from apvg, shareholder meeting deferred
U.S. Added 4.8 Million Jobs in June as Reopened Businesses Rehired
Auditors have a duty to be alert to fraud
Strong sales recovery but uncertainty remains over economic outlook and potential second wave of COVID-19