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Seeka puts recently aquired T&G Global orchards on market

Seeka Limited is putting market nine horticultural properties in Northland on the market. The properties are to be sold to somebody who will continue the orchard management and supply the produce back to Seeka by contract. The land holdings include the six properties recently purchased by Seeka from T&G Global 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 bare land 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 cool storage planned for Kerikeri."

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

For further information please contact:
Michael Franks
Seeka Chief Executive
Tel: +64 21356516

or

Stuart McKinstry
Seeka Chief Financial Officer
Tel: +64 212215583

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