Craigmore Sustainables has acquired two apple orchards in New Zealand, expanding its portfolio in the sector. The orchards, located in Hawke's Bay and Gisborne, cover a total future canopy area exceeding 110 hectares. The Ngaruroro orchard, situated in the Twyford region of Hawke's Bay, and the Patutahi orchard in Gisborne, are positioned in prime apple-growing areas, with advantageous climatic conditions and access to apple industry infrastructure.
The company plans to upgrade the Ngaruroro orchard, previously managed by Kiwi Crunch, focusing on premium apple varieties and modern infrastructure, starting with a redevelopment of over 21 hectares this winter. Similarly, the Patutahi orchard, formerly owned by Judco, will see 16 hectares developed with premium varieties, with planting scheduled for winter 2025.
These developments are expected to enhance production and increase the average price per tray of apples from these orchards. The purchases represent Craigmore's initial investments for a European institutional investor client, with Craigmore providing governance and management. According to Craigmore's chief executive, Che Charteris, the strategy emphasizes maintaining New Zealand control over investment and operational decisions for these orchards.
Currently, Craigmore manages 290 hectares of apple orchards in Hawke's Bay and Gisborne, including a recently developed 180 canopy hectare orchard near Ongaonga. The company anticipates further acquisitions in the permanent crops sector as part of its expansion strategy and is committed to the long-term development of its new assets. Charteris highlighted the need for patient, long-term capital in the New Zealand apple sector.
Source: Farmersweekly