Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Shareholding In Kiwifruit Nutraceutical Company

Media Release

Friday, 14 May 2004

Seeka buys cornerstone shareholding in kiwifruit nutraceutical company

Seeka Kiwifruit Industries Limited is to purchase a 20% share of Vital Foods Distribution Limited, owners of the DigestezyTM range of kiwifruit-based nutraceuticals.

Vital Foods is a world leader in the manufacture and marketing of kiwifruit derived nutraceutical products. Based on the kiwifruit enzyme complex Zyactinaseª, their DigestezyTM products have been successfully marketed in Germany and Australia as a natural form of relief for digestive disorders. DigestezyTM will be launched into Asia, America, the United Kingdom and New Zealand later this year.

Initial studies suggest that DigestezyTM has significant efficacy against a range of digestive disorders including gastroesopagael reflux disease - GERD - and irritable bowel syndrome - IBS. In developed countries digestive disorders occur in a significant proportion of the population.

"Our investment in Digestezyª adds a new dimension to Seeka. As a cornerstone shareholder of Vital Foods Distribution, Seeka strengthens its sphere of operations to include the processing and marketing of kiwifruit derivative products," says Seeka's managing director Tony de Farias.

"Seeka's investment will bring industry experience to Vital Foods' operations, strengthen its commercial governance and enhance its equity position.

"DigestezyTM has proven its commercial viability in the German and Australian retail markets with very promising early sales. Launches planned in New Zealand, Asia, UK and America will provide the company with an exciting opportunity to generate additional value from non-export-quality kiwifruit.

"By investing in Vital Foods, Seeka has captured a new profitable revenue stream while retaining our operational focus on our core orchard and post harvest kiwifruit operations," says de Farias.


Background information

Vital Foods and DigestezyTM Vital Foods is a leader in the production and marketing of freeze-dried fruit products and is the manufacturer of the award-winning Kiwi Crush, the 100% natural frozen fruit drink available in supermarkets throughout New Zealand and being used by many hospitals as a primary treatment for digestive dysfunction.

Studies suggest their Digestezyª range of nutraceuticals has significant efficacy against a range of digestive disorders including gastroesophageal reflux disease - GERD - and irritable bowel syndrome - IBS.

In developed countries, IBS is known to effect up to 25% of women and 12% of men under the age of 50, and to date there is no effective medication to treat this disease. GERD is estimated to affect at least 7% of the total world's population.

Vital Foods has a worldwide distribution network in place and plans to launch DigestezyTM into Asia, America, UK and New Zealand later this year.

Background information Seeka Processing more than 15 per cent of New Zealand's total kiwifruit production, Seeka is New Zealand's largest integrated kiwifruit supplier servicing the Bay of Plenty's major growing regions of Te Puke, Tauranga and Katikati.

For the current harvest 2004, Seeka is employing more than 1200 people to pick, pack, store and deliver more than 11 million trays of kiwifruit to Zespri's international markets.

Seeka's has a record of corporate governance and transparent business processes, and is listed on the NZAX.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news