Rockit Global Limited says Ngāi Tahu Holdings has secured a successful capital raise in the Hastings-based apple company. Photo / Supplied
Rockit Global Limited says Ngāi Tahu Holdings has secured a successful capital raise in the Hastings-based apple company. Photo / Supplied
Rockit Global Limited has announced Ngāi Tahu Holdings has bought a sizeable bite of the Hawke's Bay-based miniature apple company.
Rockit chairman John Loughlin says an investment was completed by Ngāi Tahu Holdings last week and that all parties are "extremely pleased with the outcome".
"Ngāi Tahu Holdings expressed aninterest in Rockit early on in the process, recognising there was alignment with its strategic goals. We also see great strategic value in this relationship – value that stretches far beyond the benefit of the significant investment Ngāi Tahu Holdings has made in our business."
Ngāi Tahu Holdings took a 6 per cent stake in Rockit, and Punchbowl Investments-led group, PB Rock, to lift a combined Punchbowl and PB Rock stake to 15 per cent of the innovatively branded miniature apple company.
Pioneer Capital remains the largest stakeholder in Rockit Global Limited, holding about 40 per cent.
Ngāi Tahu Holdings chief executive Mike Pohio says it is an investment to be celebrated.
"This opportunity will benefit both sides by providing Rockit with more capacity for future orchard developments, as well as further diversifying and increasing the growth profile of our portfolio," he says.
The capital-raising process began in late 2020 and took place over three stages, beginning with offers to growers and existing investors. Both offers were oversubscribed, testament to the confident strides Rockit has made developing key offshore markets, appointing top talent and establishing world-leading technical innovation.
Loughlin said Rockit has been on a "sharp global growth trajectory" and that the capital-raise enables several high-profile projects to surge forward.
"Our state-of-the-art packhouse and headquarters located in Irongate, Hastings, is nearing completion, and its second phase will take a large portion of this funding. We'll also look to establish our own orchards – which diversifies our business – and support strategic global sales and marketing activity."
