Seeka and Jace in kiwifruit merger

Seeka Kiwifruit Industries has formed a joint venture with Jace Investments and secured the South Auckland packing and coolstore business VeriKiwi.

Jace Investments will buy the the 1.1ha site, at Papakura, which will be leased back to the new joint venture.

The joint venture will trade as South Auckland Pack and Cool Ltd.

VeriKiwi will pack some 900,000 trays of kiwifruit, which will bring the total trays handfed by Seeka in South Auckland to 2.3 million.

Jace principal and Seeka executive Andrew Darling has been appointed general manager of the new joint venture.

Seeka is listed on the stock exchange's alternative market, the NZAX. Its shares last traded yesterday at $3.20, having ranged between $2.99 and $4.67 over the past 12 months.

- NZPA