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

 

Craigmore spends $32M to expand Kerikeri kiwifruit crop

Craigmore spends $32M to expand Kerikeri kiwifruit crop by 'more than a third'

By Pattrick Smellie

July 22 (BusinessDesk) - The kiwifruit crop in Northland's Kerikeri area will increase by "more than a third" following Overseas Investment Office permission for agriculture investor Craigmore Sustainables to spend $32 million developing some 137 hectares of horticultural land and offering 29 new jobs.

Craigmore raises its investment capital offshore but is run by New Zealanders. It was founded by farmer businesspeople Mark Cox and Forbes Elworthy, the son of Sir Peter Elworthy, one of the leading agricultural lobbyists of his day as head of Federated Farmers leader during the tumultuous primary sector reforms of the 1980s.

German, Hong Kong, Swiss, British, Finnish, American and New Zealand investors have invested in Craigmore's Permanent Crop Partnership, with the company tapping UK and German investment banking and agricultural sector experts who bring an international perspective to the opportunities in New Zealand agriculture.

The latest investment follows a $52 million apple orchard development in Hawke's Bay and Gisborne, with Craigmore focusing on "key central and northern regions" of New Zealand's North Island.

The fund has $50 million unspent and Craigmore is "openly looking for minority investments in existing horticultural businesses," Craigmore chief executive Che Charteris said in a statement.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

LA-London Out; Auckland-NY In: "New Era" For Air NZ International

Air New Zealand is accelerating its ambitions for North America and will launch a non-stop service between Auckland and New York using its 787-9 Dreamliner in October 2020. More>>

ALSO:

Data Investment: Govt Backs Te Reo, Environmental Data Research

The Government is investing in ambitious research that will digitise Te Reo, grow the low-carbon protein efficient aquaculture industry, help interpret environmental trends, and large data sets says Research, Science and Innovation Minister Megan ... More>>

ALSO:

Training: 27 Percent Increase In Trades Academy Places

Two secondary-school initiatives are being expanded as part of the Government’s plan to see more young New Zealanders take up a trade to help close the skills gap. More>>

ALSO:

Unsolicited Messages: NZ Company Fined $36,000

The New Zealand Trustees Association (NZTA) and founder, Errol Anderson, have been fined a total penalty of NZ$ 44,000 in the Auckland High Court for sending unsolicited commercial electronic messages. More>>

Marine And Freshwater Reports: EDS Calls For Urgent Action On Marine Management

“There are some big issues to address. These include many marine species and habitats that are in serious trouble. Of the sample investigated, the report finds that 22% of marine mammals, 90% of seabirds and 80% of shorebirds are threatened with or actually at risk of extinction..." More>>

ALSO: