KEY POINTS:
Japanese kiwifruit wholesaler Tokyo Seika has taken a 2.9 per cent holding in New Zealand producer and processor Seeka Kiwifruit Industries.
Established in 1947, Tokyo Seika was the first and sole importer of New Zealand kiwifruit to Japan in 1964. It is now the largest licensed fruit wholesaler in Japan with annual revenues of more than US$1.54 billion ($2.1 billion).
It handles more than 1.4 million trays of New Zealand kiwifruit a year. Seeka chairman Brian Allison welcomed Tokyo Seika's move. "[It] will give us, and our growers, a direct link with the critically important Japanese market." Seeka shares were up 3c to $4.09 at close yesterday, after ranging between $4.10 and $3.40 in the past year.
