Bay of Plenty kiwifruit management company DMS says it sold its 4 per cent stake in NZX-listed Seeka Kiwifruit Industries this month to Sumifru Singapore because it was dissatisfied with Seeka's direction and performance.
DMS director Craig Greenlees said Seeka was placing a strong focus on other produce internationally, such as bananas, and now Australian kiwifruit, cherries and stonefruit through its recent $25 million acquisition of Bunbartha Fruit Packers in Australia.
"We have concerns about this international strategy and its potential competition against New Zealand-grown kiwifruit in the key markets of Australia and Asia," he said.
![Craig Greenlees](https://www.nzherald.co.nz/resizer/v2/5QNCHWAC4BWVVM7ZIOP4XQR6JM.jpg?auth=6a7d264da2042204ed911311bcc35bccd74603c77f96f7c37b2880162ffba0db&width=16&height=25&quality=70&smart=true)
Seeka's chief executive Michael Franks thanked DMS for its support while it was a shareholder. But he said Seeka was delivering on its goal of becoming a premium produce company for its growers and shareholders.