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New NZX listing adds kiwifruit to vineyard land

New NZX listing adds kiwifruit to vineyard land

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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[03 October/Farmers Weeky]

New Zealand’s biggest kiwifruit producer Seeka, has sold one of its Northland kiwifruit orchards to new sharemarket listing, the Private Land and Property Fund (PLP). Seeka will continue to run the orchard. The fund paid $15.5 million for the 20-hectare property and its outlay is expected to rise to $22m as it pays for planting more gold kiwifruit over the next year. There is also provision for a further $1m payment in five years, based on orchard production. PLP is managed by Booster Investment Management, part of the Wellington-based KiwiSaver and investment group Booster Financial Services (BFS). Seeka will be using the proceeds to repay debt.

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