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Bay of Plenty Business News April/May 2017

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

From mid-2016 Bay of Plenty businesses have a new voice, Bay of Plenty Business News. This new publication reflects the region’s growth and importance as part of the wider central North Island economy.

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BAY OF PLENTY BUSINESS NEWS <strong>April</strong>/<strong>May</strong> <strong>2017</strong> 5<br />

Gold kiwifruit<br />

orchard investment<br />

oversubscribed<br />

Investors have snapped up the opportunity<br />

to own a stake in a gold <strong>Bay</strong> <strong>of</strong> <strong>Plenty</strong><br />

kiwifruit orchard <strong>of</strong>fered by rural investment<br />

specialist, MyFarm.<br />

MyFarm was seeking<br />

$6.3 million from<br />

investors to purchase<br />

Expressway Orchard, a 16<br />

hectare property at Paengaroa,<br />

the eastern end <strong>of</strong> the Tauranga<br />

Eastern Link.<br />

Expressway Orchard will<br />

be leased and managed by<br />

current owner DMS under a<br />

10-year contract.<br />

DMS is one <strong>of</strong> NZ’s largest<br />

kiwifruit and avocado<br />

management companies with<br />

more than 100 orchards in the<br />

region under its management.<br />

MyFarm chief executive,<br />

Andrew Watters says when<br />

the investment opportunity<br />

closed Friday, March 31 it<br />

was oversubscribed by more<br />

than $500,000.<br />

The minimum investment<br />

level was $100,000.<br />

A third <strong>of</strong> the 28 investors<br />

who took up the opportunity<br />

are <strong>Bay</strong> <strong>of</strong> <strong>Plenty</strong> based and<br />

half have other investments in<br />

MyFarm managed orchards,<br />

Expressway Orchard.<br />

dairy farms or vineyards.<br />

The average investment<br />

level was $225,000.<br />

Andrew says the competitive<br />

orchard market meant it<br />

had taken two years for<br />

MyFarm to secure a quality<br />

gold kiwifruit orchard with<br />

the key attributes investors are<br />

looking for.<br />

The hunt has already begun<br />

for another kiwifruit orchard<br />

to meet investor demand.<br />

“There’s no doubt investors<br />

want access to the kiwifruit<br />

sector,” said Andrew.<br />

“They want a slice <strong>of</strong> the<br />

export action created by<br />

Bid for research institute goes to business case stage<br />

Zespri’s strategic investment<br />

in plant variety rights and<br />

careful management <strong>of</strong> global<br />

supply.”<br />

Expressway Orchard<br />

Limited Partnership is the<br />

third kiwifruit orchard syndicate<br />

to be established by<br />

MyFarm in the past two years.<br />

CUSTOMER PREMIER MOTORS LTD PUBLISHING 13/04/17 SALES REP MANISH.KHETARPAL PUBLICATION MOTORTIMES WKT<br />

The establishment <strong>of</strong> a new lion available to develop new, region’s strengths in horticulture<br />

to support growing technol-<br />

Plus PROOFED Group 11/04/<strong>2017</strong> Horticulture, 1:11:52needs a.m. and pipeline, spanning SIZE 26.2X18 first two stages <strong>of</strong> the process,<br />

with Trimax Mowing Systems, ly aligned to their innovation The proposal has passed the<br />

research AD ID institute AU-7622096AC in <strong>Bay</strong> (100%) private research institutes DESIGNER in OUTSOURCER<br />

<strong>of</strong> <strong>Plenty</strong> has taken a step regional New Zealand. ogy and exporting companies. Zespri, Eur<strong>of</strong>ins, BlueLab, research, technology and capability<br />

MUST building. BE FINALISED BY pitch OUR to judges MATERIAL in Wellington, DEADLIN<br />

having been shortlisted for a<br />

closer after the PLEASE region’s bid APPROVE has Shane THIS Stuart, ADthe ASinnova-<br />

SOONIt AS will POSSIBLE. also have a translational NOTE THAT GPS-it, ANY Waka ALTERATIONS Digital, The<br />

been selected to go to the stage<br />

tion manager jointly for Priority role, with a strong emphasis on University <strong>of</strong> Waikato and “As Bluelab transitions and then being selected to go<br />

<strong>of</strong> developing a business case.<br />

Over the last four months<br />

Priority One has been working<br />

with local stakeholders<br />

to develop a response to the<br />

second round <strong>of</strong> the government<br />

initiative, with $35.5 mil-<br />

One and the University <strong>of</strong><br />

Waikato, says the institutes aim<br />

to support scientific research<br />

relevant to particular regions.<br />

“Our proposal focuses on<br />

technology, research and innovation<br />

that will leverage the<br />

accelerating innovation across<br />

the region.”<br />

With a working name <strong>of</strong> the<br />

Centre for Design, Innovation<br />

and Technology relating to horticulture<br />

(CDITH), the bid has<br />

been developed in partnership<br />

Priority One.<br />

The ambition for CDITH<br />

is to be a world leader in the<br />

application <strong>of</strong> technology to<br />

horticultural value chains. Greg<br />

Jarvis, <strong>of</strong> Bluelab, says the<br />

vision <strong>of</strong> CDITH is perfect-<br />

from a pure hardware company<br />

to a hardware, s<strong>of</strong>tware and<br />

data business, having access<br />

to world-class innovation output<br />

and capability building will<br />

accelerate our growth path on a<br />

global stage,” he says.<br />

through into the third round<br />

where a business case will be<br />

developed.<br />

It is expected the business<br />

case will be finalised in <strong>May</strong>,<br />

with final decisions announced<br />

in June/July <strong>2017</strong>.<br />

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