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Deal affirms Ngāi Tukairangi kiwifruit leadership
News Release
For release: 1 March 2017
Deal affirms Ngāi Tukairangi kiwifruit leadership
Ngāi Tukairangi Trust’s acquisition of one of NZ’s largest kiwifruit orchards is another example of the increasing leadership roles Māori are taking in New Zealand business, says ANZ.
“This landmark deal is an exciting opportunity for Ngāi Tukairangi,” said ANZ Head of Māori Relationships David Harrison. “From humble beginnings they’ve established themselves as top performers in the kiwifruit industry.”
“Opportunities to double your size and build scale and diversification don’t come around often. Ngāi Tukairangi have seized that opportunity, reinforced their leadership in the kiwifruit sector, and expanded their footprint,” Mr Harrison said.
The record $40.2m transfer was formally concluded with a pōhiri at Omāhu Marae in Hastings where the previous owners, the Eriksen family, officially handed over the orchard to Ngāi Tukairangi Trust.
“Today marks an important milestone for Ngāi Tukairangi,” said trustee Neil Te Kani.
“We have always been leaders in the kiwifruit industry, and we’ve maintained our long-term commitment to the sector despite challenges the industry has faced. We developed a strategy to acquire more land and this purchase is a natural progression for the Trust.”
“Most importantly this new
60 canopy hectare orchard helps grow our capacity to
sustainably provide tangible benefits to our current and
future owners.”
Buying the Hawke’s Bay orchard
provides Ngāi Tukairangi with geographic diversification of
their crop, but moves them outside their traditional tribal
boundaries into the Ngāti Kahungunu region.
Ngāti Kahungunu iwi leader Ngāhiwi Tōmoana welcomed the deal.
“We welcome Ngāi Tukairangi into our rohe as we want to renew whakapapa relationships and create co-investment opportunities with other Māori groups that provide economic benefits to local whānau.” Mr Tōmoana said.
The sale comes as the Kiwifruit sector continues to see strong growth as it recovers from the PSA outbreak in 2012.
“Kiwifruit is our largest horticultural export, and shows how the New Zealand economy is diversifying beyond dairy. The industry has shown real resilience and ability to rebuild, which is fantastic to see, and it’s important for us to support high performing operators, like Ngāi Tukairangi.” Said Kellie Burbidge ANZ Commercial & Agri General Manager for Northern region.
ENDS
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