Te Arawa Group Holdings (Rotorua); Rotoma No 1 Incorporation (Rotorua), and Ngāti Awa Group Holdings (Whakatane) today announced they are the new owners of Matai Pacific’s vast kiwifruit portfolio.
The large-scale property deal includes three Bay of Plenty orchards covering a total of almost 100 canopy hectares.
All three orchards -Te Matai Orchard; Pacific Gold Orchard and Coachman Orchard- are located in Te Puke. They were sold by tender for an undisclosed sum. The orchards will now be operated by a new Māori-owned joint-venture called Matai Pacific Iwi Collective.
There are no plans to make any immediate changes to the three separate orchards. However, there is potential to further expand production, which could result in long-term job growth.
The properties currently grow green (Hayward) and gold (G3) varieties in roughly equal percentages. When mature, the three blocks are expected to produce up to 1.3 million trays.
Te Arawa Group Holdings already has nearly ten years’ experience in the industry. Chair Dr Andrew West says the purchase is a perfect opportunity to invest for future generations.
“This is an industry we know well, and we have a proven track record of success. Together we can build a bright future for our people by delivering jobs and economic growth through the booming global demand for New Zealand kiwifruit.”
Rotoma No 1 Chair Nelson Meha says a large-scale investment will deliver economies of scale in an industry where there is already record demand.
“We are thrilled to be part of this exciting new venture with partners who share similar values and whakaaro. We are also hopeful that this investment will create opportunities for our people throughout the value chain.”
Ngāti Awa Group Holdings Chair Paul Quinn says kiwifruit will be a new direction for Ngāti Awa. But having three partners on board is a great way to share knowledge and expertise.
“Māori growers are now making a real impact in the kiwifruit market. Like our two partners, we see this as an intergenerational investment. The decisions we make now are for future generations. This has the potential to be a huge legacy.”