Tuesday 10th July 2018 |
Text too small? |
Seeka, New Zealand's biggest kiwifruit grower, is putting nine orchards up for sale including six it recently acquired from T&G Global in a deal that targeted T&G's packhouse facilities and assets in Northland.
Seeka said it was calling for bids by Aug. 15 for the 288-hectare portfolio in Northland. The company acquired T&G's Kerikeri-based kiwifruit orchards, packhouse facilities and assets for about $40 million, with the second stage of the transaction settling just two weeks ago.
"It was always Seeka’s intention to market the Northland land holding as it focused on refurbishing the post-harvest facility," chief executive Michael Franks said in a statement. "This is an excellent opportunity for investors to gain a significant stake in prime New Zealand horticultural orchards and land, with a mix of mature orchards in production, orchards in development, across kiwifruit and avocados. The portfolio includes bare land for future development. The offer will come with long-term orchard management and post-harvest services provided by Seeka."
Franks has previously said the company had identified the region as a growth area for both avocados and kiwifruit and establishing a post-harvest hub in Northland had been a priority.
Seeka shares last traded at $6.51 and are up 29 percent over the past 12 months.
(BusinessDesk)
No comments yet
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024