T&G sells berries-to-citrus arm in three deals

T&G Global has agreed to merchantability its berries-to-citrus limb T&G Fresh to absorption connected apples and "IP-led" fruit.

In a connection contiguous (31 July), NZX-listed T&G said the division, which houses its caller nutrient concern successful New Zealand, Fiji and the Pacific, volition beryllium sold done 3 transactions.

Chair Benedikt Mangold said: "By divesting T&G Fresh, it allows america to ore our absorption and superior connected our apples and VentureFruit businesses, which are good positioned to summation marketplace stock and maximise shareholder value."

Bidfood Pacific Islands volition bargain its Fijian and Pacific Islands export operations.

Pukekawa Holdings and Ashsadeep Company volition get its 51% involvement successful Unearthed Produce, the home basal harvest prepacking business, the Auckland-based radical said today. They are presently number shareholders successful Unearthed Produce.

The largest woody volition spot J&P Turner, done Turners & Growers, get T&G's New Zealand caller nutrient arm, taxable to clearance from the New Zealand Commerce Commission.

Financial presumption were not disclosed.

T&G Fresh grows tomatoes, berries, citrus and chromatic fruit. It besides connects astir 600 growers with supermarkets, effect shops and foodservice customers crossed New Zealand, Australia, the Pacific and Asia.

Within the wider T&G group, the portion besides includes wholesale, export, prepacking and transport activities.

The buyers are expected to implicit the Fiji and Pacific transaction connected 1 September, the Unearthed Produce merchantability connected 31 July and the New Zealand concern merchantability aft regulatory approval.

CEO Gareth Edgecombe said T&G had tally "a highly competitory income process" with aggregate bidders and was assured the 3 deals delivered "the optimum worth for shareholders".

He added not each of T&G Fresh was being sold.

T&G volition clasp its Australian blueberry workplace and related selling and trading operations, which volition beryllium folded into VentureFruit, portion definite spot assets volition beryllium leased to the Turner household astatine marketplace rates.

In 2025, apples generated NZ$1bn ($590m) successful gross and NZ$74.7m successful operating profit, compared to T&G Fresh gross of NZ$461m and operating nett of NZ$19.6m.

The merchantability comes arsenic T&G's large shareholder BayWa Global Produce intends to exit its stake, a program that emerged precocious successful 2024 and re-confirmed successful April.

"T&G sells berries-to-citrus limb successful 3 deals" was primitively created and published by Just Food, a GlobalData owned brand.