increase font size
Andrew Watters.
Five emerging stars of the horticulture industry have been singled out for investment by a new fund which aims to raise $100 million.
Kakariki Fund Ltd, to be managed by MyFarm Investments, will invest the money in orchards, vineyards, plantations and farms, which will then be co-managed by horticulture processors and exporters.
Kakariki will focus on hops, kiwifruit, apple, vineyards and manuka plantations. The investment in manuka plantations is part of a long-term strategy to achieve zero net carbon emissions by 2024.
MyFarm chief executive Andrew Watters says Kakariki offers investors access to the five horticultural industries via a single $100,000 sum.
“There is really no other single investment that gives New Zealanders access to a diverse range of permanent crop businesses, or exposure to the intellectual property our partners have invested in their plant varieties and brand stories.”
MyFarm has since 2015 raised $165m to buy into 18 individual orchard, vineyard, hop and manuka plantations. Kakariki will continue that investment, with four initial assets targeted to an option to purchase. Those four are:
• An 11 canopy-hectare SunGold kiwifruit orchard in Bay of Plenty
• A 50% share in a large scale 130 canopy-hectare hop garden
• 35 canopy-hectares of Rockit apples
• A 2000ha manuka plantation development.
In each of the developments, Kakariki is working with established businesses Rockit Global, which produces miniature Rockit apples, Hop Revolution, Sacred Hill wines, Comvita, a manuka honey producer and kiwifruit grower and packer DMS Progrowers.
While Kakariki will own the properties, they will be co-managed by their business partners.
The target is annual investment returns of 10% from earnings from the sale of crops through the partners and any increases in land values.
Kakariki says it hopes to list on the NZX within three to five years.
A brilliant result and great news for growers and regional economies. That's how horticulture sector leaders are describing the news that sector exports for the year ended June 30 will reach $8.4 billion - an increase of 19% on last year and is forecast to hit close to $10 billion in 2029.
There is an appeal to New Zealanders to buy local citrus fruit.
Avocado growers are reporting a successful season, but some are struggling to keep their operations afloat following years of bad weather.
Horticulture and commercial vegetable growers in particular stand to be major beneficiaries of radical proposals by government to make sweeping changes to RMA regulations.
Lydia Goodman has been crowned the Central Otago 2025 Young Grower of the Year regional winner.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
A day after the ouster of PGG Wrightson’s chair and his deputy, the listed rural trader’s board has appointed John Nichol as the new independent chair.
The iconic services building at National Fieldays' Mystery Creek site will be demolished to make way for a "contemporary replacement that better serves the needs of both the community and event organisers," says board chair Jenni Vernon.
OPINION: Ageing lefty Chris Trotter reckons that the decision to delay recognition of Palestinian statehood is more than just a fit…
OPINION: A mate of yours truly recently met someone at a BBQ who works at a big consulting firm who spent…
