The private equity investment arm of KiwiSaver provider Booster has invested more than $10 million into buying a 42 per cent stake in Katikati-based avocado grower and exporter Darling Group.
Booster, which has around $3 billion invested in its KiwiSaver scheme and is the tenth largest provider, is one of the few KiwiSaver schemes which invests in unlisted private companies through its Tahi LP fund.
Duncan Wylie, general manager strategic development at Booster, said it was attracted to Darling Group as an investment because of its vertical integration strategy. The company supplies produce to both the local and international markets and works with growers in New Zealand, Australia, the US, Mexico, Chile and Peru as well as growing avocados, kiwifruit, blueberries and citrus itself.
Source: nzherald.co.nz
