NZ: Seeka undergoes rebrand to reflect produce diversity

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NZ: Seeka undergoes rebrand to reflect produce diversity

New Zealand and Australia’s largest kiwifruit grower today announced a name change and rebrand to reflect its evolution, and is also reported to be forecasting a major rise in net profit. seeka

Te Puke-headquartered Seeka Kiwifruit Industries Limited (NZX: SEK) has been rebranded "Seeka", with the new company name Seeka Limited, effective Oct. 28. The company will retain its stock market ticker code.

"Kiwifruit remains our foundation, but the company has matured to the point where it is now time for us to reset the brand strategically for our next growth platform," Seeka chief executive Michael Franks said.

“We have a greatly diversified range of products, processing and marketing activities across New Zealand, Australia and internationally. The old brand didn’t reflect Seeka’s performance, activity and energy, or where we aspire to be.

"It was time for us to overhaul and future-proof the way we present Seeka for our growers, shareholders, customers and other stakeholders. Today we send more produce to key markets around the world than ever before."

In addition to growing, processing and marketing kiwifruit, avocados and kiwiberries, Seeka also imports, ripens and distributes bananas and tropical fruits from the Philippines and South America in New Zealand.

Last year it acquired leading Australian kiwifruit company Bunbartha Fruit Packers and set up Seeka Australia.

As well as having an estimated 80% of Australian kiwifruit production, the Australian arm of the company is also a major grower of Nashi pears, as well as plums, apricots and cherries.

Seeka also recently acquired the Kiwi Crush and Kiwi Crushies nutraceutical product ranges and will move into a new, purpose-built head office in Te Puke early next year.

Franks said the reality was that Seeka now did a lot more than simply grow kiwifruit and 'wrap cardboard around it for export'.

“We’re proud of our heritage. Seeka is a powerful, unique name and we want to focus on extending its value," Franks said.

He noted that Seeka had handled a company record 32.3 million trays of kiwifruit in the past season, up 17%, as well as reporting sector-leading returns for its avocado growers for the third year running.

Local media also reported the company was forecasting up to an 86% rise in annual net profit in 2016.

The publication said net profit was projected to be between NZD7 million and NZD8 million for the year ending Dec. 31, from NZD4.3 million in 2015.


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