One of New Zealand’s largest topfruit growers, Mr Apple, is likely to be put up for sale. The company - which accounts for some 20-30 per cent of NZ production - is owned by Scales Holdings which itself is 80 per cent owned by South Canterbury Finance, a finance company put into receivership in recent weeks. Neither Scales, nor Mr Apple are in receivership.
Mr Apple has 20 orchards, three packhouses and a coolstore and is based in the major production area of Hawkes Bay. Speculation is rife in the industry as to whether Mr Apple will be broken up for sale or sold whole or whether it will be sold to domestic or foreign investors. Time is on the side of the successful apple grower however as government honoured the guarantees on South Canterbury Finance.
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