Scales Corporation sells two orchards for $34m

(Image: Unsplash)

Tue, 16 Jul 2024

Agribusiness Scales Corporation has agreed to sell two apple orchards to a fund managed by Craigmore Sustainables for $34 million.The sale of the Te Papa and Blyth Orchards, owned by subsidiary Mr Apple New Zealand, is subject to approval by the Overseas Investment Office. The total planted orchard area is 186 hectares.Suitable fruit from both orchards will be supplied to Mr Apple for packing, storage and marketing under a long-term agreement as part of the transaction. To smooth the transition, Blyth Orchard, in Clive, Hawke's Bay, wi...

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