New Zealand Competition Commission Reviews Proposed Acquisition of T&G Fresh
The New Zealand Commerce Commission is reviewing J&P Turner's proposed acquisition of T&G Fresh, expressing concerns that the deal could reduce competition and make growers more vulnerable to market power. The regulator has not yet decided on the merger but highlighted potential issues in both buying from growers and supplying wholesale customers like supermarkets and meal-kit companies. T&G Global agreed to sell its fresh produce division as part of a broader strategy focusing on apples and IP-led fruit, with J&P Turner acquiring T&G's New Zealand operations. The Commission is particularly concerned about the impact on growers due to their weaker bargaining power and limited visibility into end prices. Other parts of the divestment include sales to Pukekawa Holdings, Ashsadeep Company, and Bidfood Pacific Islands. J&P Turner argues that competition will remain strong from other players like MG Group and direct grower supply channels, while also noting low barriers to entry in the market.
