Seeka Kiwifruit Industries is expected to finalise a deal to purchase kiwifruit packaging company Te Awanui Hukapak today, with the share and cash deal set to cost around NZ$24.2m.
As part of the amalgamation agreement, Te Awanui Hukapak will acquire a 17 per cent shareholding in Seeka, New Zealand's largest kiwifruit grower, according to Voxy.co.nz.
The amalgamation ceremony was due to take place today at Whareroa marae, Taiaho Place at Mt Maunganui, the location of post-harvest group Te Awanui's operations.
Seeka currently markets an estimated 20 per cent of New Zealand’soverall kiwifruit crop, around half of which is produced by thecompany’s own network of growers.
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