Western Bay of Plenty District Council has agreed to sell its shareholdings in Zespri Group Ltd and Seeka Ltd.

Councillors made the decision last week as part of the Audit, Risk and Finance Committee meeting.

The move forms part of Council’s broader financial strategy to review non-core assets, and ensure funds are directed towards activities that directly benefit the community.

Committee Chairperson, Councillor Murray Grainger, said it was a carefully considered decision, made with a strong awareness of the District’s rural and horticultural heritage.

“We’re very proud to represent a District with such a strong horticultural sector, and we absolutely recognise the role that Zespri and Seeka play in our local economy,” said Grainger.

“These particular shares, though, were not acquired as part of a deliberate investment strategy by Council. They came about through past land and orchard transactions.

“While the shares have provided some dividend income, they’re not directly linked to the delivery of Council’s services or strategic outcomes.”

Council currently holds 26,490 shares in Zespri Group Ltd and 11,247 shares in Seeka Ltd, with an estimated market value of around $207,000.

The proceeds from the sale will be allocated to the General Rates Reserve, helping to strengthen Council’s financial position and providing flexibility to fund priority projects, reduce debt, or enhance financial resilience.

“In today’s economic climate, it’s important we stay focused on sound financial management and make decisions that best serve our communities,” said Grainger.

“Selling these shares now helps us reduce exposure to market volatility and refocus on delivering services and infrastructure that matter most to our communities.”

The sale forms part of Council’s ongoing review of non-core assets, aimed at ensuring resources are used wisely and remain focused on delivering value for the community.

“As with any good housekeeping, it’s important we regularly check what we’re holding and make sure those assets are still serving a purpose for our community,” says Murray.

“In this case, selling the shares makes good sense and allows us to put the funds to better use where they will directly support our ratepayers.”

Watch the Audit, Risk and Finance Committee meeting: