Craigmore Sustainables is a New Zealand owned and controlled business set up to help fund development and grow regional NZ food and fibre businesses. It has announced it will invest $38 million to convert 137ha of established dairy farm at Kerikeri into a kiwifruit orchard. This will increase local kiwifruit production by at least one third and create 29 full-time equivalent jobs. The project is approved by the Overseas Investment Office (OIO).
The Kerikeri move follows recent approval from the OIO to buy land in Hawke’s Bay and Gisborne where Craigmore is investing $52m to develop apple orchards which will offer almost 100 full-time equivalent jobs. It expects to boost NZ exports by $30m.
Craigmore Sustainables chief executive Che Charteris told ruralnewsgroup.co.nz these investments are part of the company’s Permanent Crop business which is expanding and diversifying horticulture in key central and northern regions.