New Zealand fruit group Seeka Kiwifruit Industries (NZX:SEK) has sold its 25% stake in Kiwi Produce Limited, a local services company that packs and pre-packs kiwifruit, feijoas, avocados, kiwiberries, citrus, tamarillos and passionfruit.

The purchase was made by Kiwi Produce's majority shareholders Geoff and Nicky Oliver.

In a release to the New Zealand Stock Exchange, Seeka did not disclose the sale price but said it was not expected to have a material effect on earnings.

Seeka chief executive Michael Franks said the sale was a continuation of Seeka's strategy to review its asset holdings, particularly in terms of its investments in subsidiaries and associates.

Franks outlined that the company continued to review and reshape its asset holdings.

The move follows on from the sale of Seeka's 20% shareholding in OPAC last year.

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