15th September 2021 Kiwifruit / Seeka
Seeka has made an offer to acquire Kerikeri-based kiwifruit grower Orangewood Limited.
New Zealand’s largest kiwifruit grower, Seeka, posted a sharp rise in net profit before tax in the six months ended 30 June, up 77% to $30.8m compared with the same six months last year.
Kiwifuit company Seeka has delayed a decision on developing a new packhouse at Pukenga by pledging a $20m upgrade at an existing packhouse.
Seeka has been officially welcomed to Ōpōtiki to celebrate its purchase of Ōpōtiki Packing and Cool Storage.
A certificate of amalgamation is imminent, formalising the kiwifruit specialists’ deal.
A kiwifruit landholding owned and managed by Seeka has been placed on the market for sale.
Grower support and banking thresholds are the only hurdles remaining.
Seeka is a step closer to buying kiwifruit rival Ōpōtiki Packing and Coolstorage.
Seeka’s proposed $60m purchase of rival kiwifruit company Opotiki Packing and Cool Storage would create New Zealand’s largest kiwifruit grower with annual revenue of £300m – but it is far from a done deal.
The Bay of Plenty-based company is looking to expand its footprint in the kiwifruit sector.
The Te Puke-based produce handler more than doubled its annual profit in FY20.
Seeka has announced a 12 cent dividend, payable on 30 March 2021.
The Te Puke-based company said the dividend would be paid on 27 January 2021 to all holders of ordinary shares.
The kiwifruit exporter gets the go-ahead for a sale and leaseback deal, unlocking more profit for the year.