New Zealand cherry development Deep Creek Fruits NZ LP is undergoing a second capital raise to fund a packhouse and expansion at its Central Otago orchards. According to Deep Creek Fruits chairman Michael Ambrose, the offer, in accordance with the Financial Markets Conduct Act 2013, invited wholesale investors to purchase partnership interests in the development which would export cherries to global markets for the first time in 2021/2022.
Once at full production, the development will be one of New Zealand's largest cherry orchards under single ownership.
"I see this as a part of our long-term strategy with a focus on ensuring a sustainable business proposition to enhance investor returns and value," Ambrose told stuff.co.nz.
Chief executive officer and director Sharon Kirk said it was a chance for investors to take advantage of the highly profitable global export market; New Zealand cherries are consistently achieving the highest price per kilo on the world market.