T&G Global has agreed to sell its berries-to-citrus arm T&G Fresh to focus on apples and “IP-led” fruit.
In a statement today (31 July), NZX-listed T&G said the division, which houses its fresh produce business in New Zealand, Fiji and the Pacific, will be sold through three transactions
Chair Benedikt Mangold said: “By divesting T&G Fresh, it allows us to concentrate our focus and capital on our apples and VentureFruit businesses, which are well positioned to increase market share and maximise shareholder value.” Bidfood Pacific Islands will buy its Fijian and Pacific Islands export operations. Pukekawa Holdings and Ashsadeep Company will acquire its 51% stake in Unearthed Produce, the domestic root crop prepacking business, the Auckland-based group said today. They are currently minority shareholders in Unearthed Produce.
The largest deal will see J&P Turner, through Turners & Growers, acquire T&G’s New Zealand fresh produce arm, subject to clearance from the New Zealand Commerce Commission. Financial terms were not disclosed. T&G Fresh grows tomatoes, berries, citrus and stone fruit.