Satara in talks with possible kiwifruit partners

Satara, which announced a strategic review last Thursday, said it is in merger talks with potential partners in the kiwifruit industry.

It described the talks as “preliminary.” The orchard and post-harvesting group for kiwifruit and avocados jumped 7.7% to 70 cents on the NZX 50.

On July 1, the group forecast “significantly lower earnings” for 2010 on reduced crop processing through its plants. It would also take a hit from changes to depreciation tax on property.

Businesswire.co.nz

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