Sharechat Logo

Seeka to sell 9 orchards including 6 recently acquired from T&G Global

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)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports