Seeka Limited (NZSE:SEK) entered into an amalgamation agreement to acquire New Zealand Fruits Limited for approximately NZD 21 million on December 10, 2021. NZ Fruits shareholders are offered new Seeka shares and cash for every NZ Fruits share, divided evenly between shares and cash. The issue price for each new Seeka share is $5.2455, being the volume weighted average price of Seeka shares traded on the NZX Main Board over the 10 business days ended 9 December 2021.

The conditions include satisfactory due diligence and final Seeka Board approval, 75% or more of NZ Fruits shareholders approving the amalgamation and on relevant regulatory approvals (if any) being obtained.