The rural investor founded by Forbes Elworthy in 2009 manages 93 dairy, grazing, forestry and horticulture properties over more than 40,000ha, with other properties close to settlement.
Craigmore entered into a partnership as the majority shareholder of 45 South Cherry Orchards Ltd last November, with its chief executive Tim Jones as a smaller shareholder.
Unlike with its other investments, Craigmore does not manage the cherry business, bought for an undisclosed sum.
This will be left to 45 South Cherries, which owns and manages more than 300ha of orchards in Central Otago’s Cromwell area.
A growth area for Craigmore is its $504m horticulture business, including 2212ha in kiwifruit, apples, grapes — and now cherries — in the South Island.
Mr Charteris said Craigmore felt privileged to be involved with 45 South Cherries and looked forward to working with Mr Jones and his team to support the business for more future success.
"Horticulture gives us the opportunity to produce premium food efficiently while delivering strong environmental, social and financial results."
He said horticulture operations were regionally focused, concentrating on partnering with teams to grow crops best suited to the region.
"By introducing capital, we can help these businesses realise their long-term plans."
Among Craigmore interests are 13 dairy properties in Canterbury, as well as nine Otago dairy farms, including a large dairy support grazing unit, three vineyards in Marlborough and two hop-growing operations in Nelson/Tasman.
Last year total assets increased by $300m.
Among the new investments were an increase of forestry investment by 4500ha, planting nearly 4.5 million trees, and another 670ha of new orchards and vineyards, including organic kiwifruit.
The forestry arm, valued at $517m, is now across more than 28,000ha.
Craigmore’s horticulture arm was boosted by investment in four apple orchards, two each in Hawke’s Bay and Gisborne, last year.
The company has just entered its first commercial harvest from its northern-most orchard, Sunpark in Tairāwhiti, an 84ha property bought in 2022 and converted from beef farming into export apple production.
