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Seeka Markets Northland Horticultural Orchards

Seeka Markets Northland Horticultural Orchards

Te Puke, 10 July 2018: Seeka Limited has released its information memorandum to market nine horticultural properties in Northland. The properties are proposed to be sold by tender with orchard management and postharvest supply contracts back to Seeka. The land holdings include the six properties recently purchased by Seeka from Turners and Growers Horticulture Limited and in total covered 288 title hectares. Varieties grown on the properties include kiwifruit [Zespri SunGold, ENZAGold, EnzaRed and Hayward] along with avocados and lemons. There is significant bareland suitable for horticulture development.

Michael Franks, Seeka Chief Executive outlined that the move to sell was consistent with strategy and Seeka’s business model. This is a large scale horticultural asset holding in a prime growing region of New Zealand. We are looking for a large scale investor or consortium to own these orchards with professional orchard management and post-harvest services in place from Seeka. At the same time Seeka is investing in the fundamental postharvest infrastructure with new packing facilities and coolstorage planned for Kerikeri.

The sale process was timed to close on 15 August 2018 at 5pm with independent consultant, Michael Blennerhassett, assisting with the coordination of the sale process. The information memorandum is available on Seeka’s website – www.seeka.co.nz.


ends

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