One of the largest fresh produce companies in New Zealand, T&G Global Limited, has entered into an agreement to acquire the domestic fresh produce division of Freshmax NZ. The hope for this acquisition is that it boosts business in New Zealand, as well as benefitting growers, customers and the wider industry.
This purchase aligns with the company’s strategy for growth and is valued at $30 million.
“We are proud to lead the consolidation of these two strong businesses which we believe will be a welcomed catalyst of change to drive more efficient and effective ways of working with New Zealand growers and retailers,” said Gareth Edgecombe, T&G Global CEO. “Freshmax NZ brings a strong team, operations and facilities and a large distribution services business which are all complementary additions to T&G’s NZ Produce business.”
Edgecombe said that the move would deliver a stronger proposition to market, an enhanced product offering with the aspiration of becoming the partner of choice for growers and customers.
“We’re excited to bring together the combined strengths of the Freshmax and T&G teams, suppliers and customers into our business, and build a stronger combined presence in the New Zealand market,” said Andrew Keaney, T&G Global managing director New Zealand produce. “We’re confident the acquisition will present opportunities for operational improvements for the wider fresh produce industry, deliver enhanced services to growers and open up new commercial avenues for our collective trade partners.”
Included in the deal are the three market sites in Auckland, Wellington and Christchurch as well as the distribution services throughout the country.