Local company Bostock New Zealand looking for investors
Local growing company Bostock New Zealand is looking to sell down shares in a bid to access capital for new opportunities.
The company, a mainstay of the Hawke’s Bay economy, is fully owned by local businessman John Bostock. The company is one of New Zealand’s leading growers and the largest organic apple producer. Like other growers in Hawke’s Bay Bostock New Zealand was adversely affected by Cyclone Gabrielle in February.
Approached by Hawke’s Bay App today for comment about the sell down of shares, John Bostock said the plan was for him to retain controlling interest in the company.
“This is to make Bostock New Zealand bigger and stronger than ever and take advantage of lots of opportunities that are emerging.”
“We're really excited for the future and there's lots of opportunities and part of the cyclone recovery, we want to sell down some shares and get ourselves fit for the opportunity.”
“There's a flyer out with Craigs Limited,” said Bostock.
Asked if he was looking at attracting international interest, he said the aim is to look for New Zealand investors. He says he wants to keep a majority shareholding, but the number of shares up for sale is open for discussion.
The timeframe for the sale is “the next month or so”.
Asked if he was stepping back from operations, Bostock says he has got “more energy than ever” and was hoping to ramp up business.
“There's some exciting technologies out there. There's new IP and we're just trying to find new ways to make things even better”
“I'm really positive. The weather's turned. We've gone from La Niña to El Niño. The sun's shining. Crops are getting planting. We're planting crops. Lots of onions are going in the ground. We're preparing a big maize planting, organic maize. We're replanting apples and restructuring orchards. It's all go.”