Seeka has put nine orchards in New Zealand’s Northland on the market. The offer includes six orchards recently acquired from T&G Global in a deal valued at approximately NZ$40m (US$29m).
Along with the six orchards, the acquisition also included T&G’s Kerikeri packhouse facilities and further assets, which Seeka intends to develop.
“It was always Seeka’s intention to market the Northland land holding as it focussed on refurbishing the post-harvest facility,” explained Seeka chief executive Michael Franks in a statement to shareholders.
“This is an excellent opportunity for investors to gain a significant stake in prime New Zealand horticultural orchards and land, with a mix of mature orchards in production, orchards in development, across kiwifruit and avocados.
“The portfolio includes bareland for future development. The offer will come with long-term orchard management and post-harvest services provided by Seeka.”
The Northland property portfolio covers 288ha. The sale process is set to run for five weeks with the current timetable calling for bids on 15 August.