Principal New Zealand kiwi packers to merge
New Zealand’s Eastpack Ltd and Satara Co-operative Ltda, two of the country’s largest kiwi packers will merge their operations, thus creating the country’s largest grower-owned post-harvest cooperative, the companies said in separate news releases.
The agreement awaits shareholder approval, and details of the agreement will be made public in mid-November. According to Satara, the merger is designed to improve the grower’s global position and make their fruit more competitive through increased supply chain efficiency.
“We believe there will be financial benefits and increased efficiencies through our synergies, assets and skills within a cooperative framework,” Satara’s chairman Hendrik Pieters said in the release.
Eastpack’s current CEO Tony Hawken will run the merged company, which is expected to be operating in January 2011.
In 2009 Eastpack processed 16.7 million trays of class 1 Kiwi and posted revenues of NZD 61.2 million. Satara packed 8.5 million trays and logged NZD 56.6 million in revenues in 2009.
Photo: Satara Cooperative Group