Turners & Growers to drive Delica growth

Turners & Growers to drive Delica growth

New Zealand fresh produce group Turners & Growers has entered into an agreement to take full control of Delica Ltd.

Turner & Growers currently owned 100% of Delica New Zealand and South America, as well as 85% of the group's Australian business and 75% of the North American subsidiary. By taking full control of Delica's global operations, the business will become a 100%-owned subsidiary of Turner & Growers.

Delica is a diversified export company operating in the Asia Pacific region, with a presence in "key products" including apples, grapes, citrus, asparagus and cherries. Group turnover for 2012 totalled almost NZ$200m, Turner & Growers said in a notice to the New Zealand stock exchange.

"Delica has grown its business every year since Turners & Growers first bought into the business in 2007, and expansion plans continue, recently launching a new business to service the domestic market in Australia," Turner & Growers said.

Klaus Josef Lutz, chairman of Turners & Growers added that the company now has a "significant opportunity" to grow the business.