New Zealand-based post-harvest and orchard managementbusiness Orangewoodwill become a wholly owned subsidiary of Seeka.
An amalgamation bid, announced in September, has been successfully completed, subject only to the issue of a Certificate of Amalgamation from New Zealand’s Companies Office.
The NZ$6.9m transaction will see Seeka issue 639,302 new shares and pay NZ$1.3m to Orangewood shareholders. Seeka will assume NZ$2.1m of Orangewood debt.
“Seeka now moves into an integration phase to align the business processes of Orangewood with Seeka and to set the combined Northland business for a successful 2022 harvest season,” Seeka said in a media release.