One of New Zealand's largest privately-owned kiwifruit orchard portfolios has changed hands, with a new Māori-owned joint venture to run the properties, according to Rotorua Daily Post.
Matai Pacific's kiwifruit portfolio, which comprises three mid to large-sized blocks at Te Puke, has been bought by Te Arawa Group Holdings, Rotoma No 1 Incorporation and Ngāti Awa Group Holdings for an undisclosed sum. The three North Island iwi-based companies will operate the orchards under a new entity known as Matai Pacific Iwi Collective.
Combined, the three blocks (Te Matai Orchard, Pacific Gold Orchard and Coachman Orchard) are said to have the capacity to produce over 1.2m trays of fruit each year. Both Hayward and Gold3 (SunGold) vines are planted on all three orchards.
Ngāti Awa Group Holdings chair Paul Quinn said the move furthers investments already made by Māori growers in the kiwifruit sector.
'Māori growers are now making a real impact in the kiwifruit market ... we see this as an intergenerational investment,' he said.'The decisions we make now are for future generations. This has the potential to be a huge legacy.'
