T&G Sells Berries-to-Citrus Division Through Three Deals
NZX-listed T&G has agreed to sell its berries-to-citrus division, T&G Fresh, through three separate transactions. The move is part of a strategic shift for the company to focus on apples and its VentureFruit business. The sales include Bidfood Pacific Islands acquiring Fijian and Pacific operations; Pukekawa Holdings and Ashsadeep Company taking over 51% in Unearthed Produce, while J&P Turner will acquire T&G's New Zealand fresh produce arm pending regulatory approval. T&G Fresh operates across multiple regions including New Zealand, Fiji, the Pacific Islands, Australia, and Asia. The company retains its Australian blueberry farm and certain property assets. Financial details of the deals were not disclosed. In 2025, T&G's apple business generated NZ$1 billion in revenue with an operating profit of NZ$74.7 million compared to T&G Fresh’s NZ$461 million revenue and NZ$19.6 million profit. The sale aligns with plans by major shareholder BayWa Global Produce, who intend to exit their stake in the company.
Topics: agriculture divestment fresh produce M&A