NZ Super Fund takes 27% stake in NZ Gourmet
POSTED ON: 28 June 2018
The NZ Super Fund has invested in international fresh fruit and vegetable grower and marketer NZ Gourmet (www.nzgourmet.net), taking a 27% stake in the company for an undisclosed price.
Founded in 1982 by brothers Paul, Chris and Tony Martin and father John Martin, NZ Gourmet produces and markets high quality fresh produce including capsicums, blueberries, asparagus, tomatoes, strawberries and cherries. It has customers around the world and operations in New Zealand, the United States, Australia, Mexico, Peru and Ecuador.
NZ Super Fund Acting Chief Investment Officer Mark Fennell said: “NZ Gourmet is a Kiwi success story and we look forward to partnering with the company as it continues to expand internationally.”
“Our decision to invest in NZ Gourmet, and our confidence in its long-term prospects, is backed by growing global demand for fresh fruit and vegetables and an increasing focus by consumers on health and wellness.”
“We are delighted to have found another world class investment for the NZ Super Fund in New Zealand.”
NZ Gourmet CEO Paul Martin said: “NZ Gourmet approached the NZ Super Fund because we were interested in partnering with a New Zealand investor with a long-term outlook. We will use the new capital to support our continued growth and expansion both domestically and offshore. This is a positive step forward for NZ Gourmet’s future and we look forward to a long and successful partnership with the NZ Super Fund.”
NZ Gourmet is one of the largest fresh blueberry exporters and capsicum producers in New Zealand. NZ Gourmet and its US subsidiary Gourmet Trading supply leading retailers in North America, Asia and Australasia.
Mr Martin will remain as CEO.
Mr Martin acknowledges the support of NZ Gourmet’s employees and joint venture partners including Tuaropaki Trust and The Hauhungaroa Partnership.
About NZ Gourmet
NZ Gourmet was established in 1982 as a specialist exporter of premium quality New Zealand produce. Today, NZ Gourmet and its US subsidiary Gourmet Trading produce and market high quality fresh produce including capsicums, blueberries, asparagus, tomatoes, strawberries and cherries from New Zealand, the United States, Mexico, Peru and Ecuador. For more information please visit www.nzgourmet.net and www.gourmettrading.net.
About the NZ Super Fund
The NZ$38b NZ Super Fund is a global investment fund established by the New Zealand Government to help pre-fund universal superannuation. A long-term, growth-oriented investor, the Fund has returned 10% per annum since inception in 2003. It has more than $5b invested in New Zealand, including significant stakes in Kaingaroa Timberlands, Kiwibank, Datacom, Fidelity Life and Metlifecare, along with a portfolio of rural land, more than $1b invested in listed New Zealand equities and significant commitments to expansion capital supporting small and medium sized local companies. For more information please visit www.nzsuperfund.nz.