T&G Global has sold its Kerikeri-based kiwifruit orchards, packhouse and assets to Seeka in a deal worth around $40 million.
Under the agreement, Seeka will purchase T&G's post-harvest facilities in Kerikeri for the packing and storing of avocados, kiwifruit and citrus.
T&G has also sold all its Zespri shares to Seeka, worth around $2m. Seeka's registered office is in Wellington, with the majority of its directors and shareholders in New Zealand. The largest single shareholder, with 11.975 per cent of the shares, is Sumifru Singapore Pte.
T&G is also selling around 80 hectares of orchards in and around Kerikeri to Seeka on which it grows the Hayward, ENZAGold and ENZARed kiwifruit as well as Zespri Sungold varieties. T&G will, however, remain the trademark owner of the kiwifruit brands. T&G will also have access to fruit grown by Seeka for its existing customer base here in New Zealand and overseas.
The completion date for the post-harvest sale is expected to be April 30 and June 30 for the orchard sale. Seeka will then rename T&G's Kerikeri facilities and operating business entities "Seeka Kerikeri".