Seeka Announces Purchase of Northland Operation

20 April 2018


T&G GLOBAL AND SEEKA REACH AGREEMENT OVER
KIWIFRUIT OPERATION AND ASSETS IN NORTHLAND


T&G Global Limited (T&G) has reached an agreement regarding the sale of its Kerikeri-
based kiwifruit orchards, packhouse facilities and assets to Seeka Limited (Seeka).

The agreement, valued at approximately $40 million will see Seeka purchase T&G’s post-
harvest facilities in Kerikeri for the packing and storing of avocados, kiwifruit and citrus.
Additionally, T&G has agreed to sell all its Zespri shares to Seeka, valued at approximately
$2 million.

T&G is also selling approximately 80 hectares of orchards in and around Kerikeri to Seeka
on which it currently grows the Hayward, ENZAGold and ENZARed kiwifruit as well as Zespri
Sungold varieties. T&G will however remain the trademark owner of the kiwifruit brands. T&G
will also have access to fruit grown by Seeka for its existing customer-base here in New
Zealand and overseas.

The completion date for the post-harvest sale is expected to be 30 April 2018 and 30 June
2018 for the orchard sale. Seeka will then rename T&G’s Kerikeri facilities and operating
business entities ‘Seeka Kerikeri’.

All staff from T&G’s post-harvest and kiwifruit orchard business areas will be retained by
Seeka.

T&G’s executive general manager, New Zealand, Andrew Keaney says the company is
extremely pleased to have secured a positive outcome for its kiwifruit growers and
employees in Northland.

“Our staff and grower partners will benefit from being owned and operated by Seeka which
has confirmed it will invest for the long-term. The New Zealand avocado, kiwifruit and citrus
industries need good fruit processors in Northland such as Seeka and T&G is delighted to
have found such a strong partner to take the business forward.”

Michael Franks, CEO of Seeka says the company has identified the region as a growth area
for both avocados and kiwifruit and establishing a post-harvest hub in Northland has been a
priority.

“Seeka has an existing client base of kiwifruit and avocado growers in the area to service
and we will continue to offer services and support to growers who have supplied fruit to T&G.
The orchards purchased in the agreement secure additional fruit supply to make sure our
operations are profitable.”

Mr Franks explains, “With new avocado developments in the area, we are expecting demand
for post-harvest facilities to increase. We also anticipate increasing demand for kiwifruit as
growing conditions have proven very favourable, particularly for gold varieties and with
Seeka providing a new competitive dynamic to the market focusing on quality, price and
service.”

Mr Keaney says the sale of T&G’s kiwifruit operation is part of the company’s intention to
focus on its core produce categories which will continue to include citrus and berries grown in
Northland and other parts of the country.

“Our Northland berry and citrus operations are not included in our sale as we intend investing
further in these growth categories. We have land ready for development and will be investing
also in crop protection facilities for our existing operation in Kerikeri. We also hope to employ
more people through these investments.”

ENDS

For more information please contact:

Joanne Jalfon Kim McFadden
Head of Corporate Brand/Communications Marketing/Communications Manager
T&G Global Seeka
Tel: + 64 27 201 2645 Tel: + 64 27 202 9298
Email:
joanne.jalfon@tandg.global Email: kim.mcfadden@seeka.co.nz