T&G Global Limited has agreed to acquire the domestic fresh produce division of Freshmax NZ.
The $30 million purchase, according to a news release, will boost its T&G Global’s New Zealand business and benefit growers, customers and the wider industry.
“We are proud to lead the consolidation of these two strong businesses which we believe will be a welcome catalyst of change to drive more efficient and effective ways of working with New Zealand growers and retailers,” T&G Global CEO Gareth Edgecombe said in the release.
“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.”
The purchase deal includes three Freshmax NZ sites in Auckland, Wellington, Christchurch and distribution services throughout New Zealand, according to the release. The deal is subject to review by the Commerce Commission, according to the release, and both Freshmax NZ and T&G Global’s NZ Produce business will continue business as usual until the necessary conditions are satisfied and the transaction closes.