Three iwi-based groups have purchased one of New Zealand's largest kiwifruit portfolios.
Te Arawa Group Holdings, Rotoma No 1 Incorporation and Ngāti Awa Group Holdings are the new owners of Matai Pacific's kiwifruit portfolio.
The deal includes three Bay of Plenty orchards covering a total of almost 100 canopy hectares. The orchards located in Te Puke will be operated by a new joint-venture, Matai Pacific Iwi Collective.
Ngāti Awa Group Holdings Chair Paul Quinn says kiwifruit will be a new direction for Ngāti Awa but believes having three partners on board is a great way to share knowledge and expertise.
"Māori growers are now making a real impact in the kiwifruit market. Like our two partners, we see this as an inter-generational investment. The decisions we make now are for future generations. This has the potential to be a huge legacy."
Te Arawa Group Holdings has nearly ten years' experience in the industry. Chair Dr Andrew West says, "This is an industry we know well, and we have a proven track record of success. Together we can build a bright future for our people...".
Rotoma No 1 Chair Nelson Meha welcomed the opportunity to join with "partners who share similar values and whakaaro".
"We are also hopeful that this investment will create opportunities for our people," he says.