Acquisition of Olivado will benefit Seeka’s bottom line, the Te Puke-based produce company’s CEO, Michael Franks, expects.
“This purchase complements our existing business supporting avocado growers in the far north,” he says. “It has good alignment to Seeka’s growth strategy, expanding its footprint in the growing market for healthy and sustainable food oils.”
Founded in 2000, Northland-based Olivado was placed in liquidation in February.
Olivado will be integrated with Seeka’s Delicious Nutritious Food Company (DNFC), which includes an avocado oil business. Staff have been offered employment as part of the purchase.
“We are very pleased to announce the completion of a sale of the company assets to Seeka, “Garry Whimp from liquidator, Blacklock Rose, confirms. “This is an excellent result for the staff and the creditors. We believe [Seeka] will service the existing clients and grow the business, ensuring continued employment for the existing staff.”
Te Puke-based Seeka will integrate new staff and processing into its DNFC Northland facility.
