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


Seeka reaps $15.9M from Northland sales

Seeka reaps $15.9M from Northland sales

By Gavin Evans

Oct. 23 (BusinessDesk) - Seeka has agreed to sell five Northland kiwifruit orchards for $15.9 million.

The orchard manager and marketer said the buyers will become long-term suppliers to Seeka, which will manage the properties. Four of the orchards were acquired as part of Seeka’s $40 million purchase of Turners & Growers’ Northland horticulture business in April.

Te Puke-based Seeka said the sale price exceeds the firm’s purchase price and holding costs. Negotiations are continuing for the remainder of the portfolio.

The firm’s shares fell 5 cents to $5.95 and are down almost 9 percent this year.

Seeka, the biggest kiwifruit producer in New Zealand and Australia, said in July it planned to sell nine orchards in Northland covering 288 hectares. They included six orchards acquired from Turners and Growers.

Selling the orchards would allow the firm to focus on refurbishing a Kerikeri packhouse and cool store acquired as part of that transaction.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Wainui: Major Infrastructure Partnership For North Auckland

Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes... More>>


NZ's Space Programme: Rocket Lab Reaches Orbit Again

Rocket Lab has continued the success of its 2018 orbital launch program with the launch of seven payloads to orbit. The mission marks Rocket Lab’s second successful orbital launch and deployment of customer satellites. More>>


Supreme Court: Labelling Swamp Kauri Slab A Tabletop Doesn't Make It One

New Zealand's highest court has ruled that exporting slabs of swamp kauri as "tabletops" or swamp kauri logs as "totem or temple poles" is illegal under the Forests Act. More>>


Starting Ending Offshore Drilling: Green Party Celebrate Passing Of Oil And Gas Bill

“This Bill is an essential first step in winding down offshore exploration for new sources of fossil fuels. We are in Government together to do this work, to create the change our people and our planet need to flourish." More>>


Reserve Bank: Official Cash Rate Unchanged

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020. More>>