Bayleys managing director Mike Bayley said it was extremely rare to see a portfolio of such size come to the market: "The sheer scale of this Te Puke portfolio puts the trio of orchards among the biggest commercial kiwifruit operations in New Zealand, and is certainly one of the largest that has ever been taken to market in one portfolio. In addition to some 98 canopy hectares there is also the potential for any new owner to develop the orchards further through grafting Hayward kiwifruit stock to the higher value G3 kiwifruit variety."
The orchard portfolio also included the option to buy 677,720 Zespri shares - which can only be bought and held by the owners of land producing kiwifruit for the co-operative.
Bayley said potential buyers had the options of either tendering to buy the entire portfolio as one complete entity, or tendering for individual properties in any combinations..
According to stuff.co.nz, the orchards are all contracted to supply harvested fruit to Zespri International which sells kiwifruit into more than 50 countries.
The three orchards are:
- Te Matai Orchard off, which is 56.4 canopy hectares of G3 and Hayward kiwifruit as part of a total landholding of 158.2 hectares, with two residential houses.
- Pacific Gold Orchard, which is 28.05 canopy hectares of G3 kiwifruit as part of a total landholding of 38 hectares, including an irrigation system and frost protection.
- Coachman Orchard a 12.71 canopy hectare operation of G3 and Hayward kiwifruit as part of a total landholding of 27 hectares, with an irrigation and frost protection system, and a residential dwelling on a separate title.