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. It also connects nearly 600 growers with supermarkets, fruit shops and foodservice customers across New Zealand, Australia, the Pacific and Asia.
Within the wider T&G group, the unit also includes wholesale, export, prepacking and transport activities.
The buyers are expected to complete the Fiji and Pacific transaction on 1 September, the Unearthed Produce sale on 31 July and the New Zealand business sale after regulatory approval.
CEO Gareth Edgecombe said T&G had run “a highly competitive sales process” with multiple bidders and was confident the three deals delivered “the optimum value for shareholders”.
He added not all of T&G Fresh was being sold.
T&G will retain its Australian blueberry farm and related marketing and trading operations, which will be folded into VentureFruit, while certain property assets will be leased to the Turner family at market rates.
In 2025, apples generated NZ$1bn ($590m) in revenue and NZ$74.7m in operating profit, compared to T&G Fresh revenue of NZ$461m and operating profit of NZ$19.6m.
The sale comes as T&G’s major shareholder BayWa Global Produce intends to exit its stake, a plan that emerged late in 2024 and re-confirmed in April.
