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The latest announcement is out from T&G Global Limited ( (NZ:TGG) ).
T&G Global has moved to reshape its portfolio, entering advanced talks to sell its New Zealand fresh produce operations to the founding Turner family and its Fijian and wider Pacific businesses to Bidfood. The proposed sales would carve out tomato, berry, citrus and stone fruit growing units, wholesale markets, export, prepacking and transport assets, with the Turner family expected to lease key growing properties from T&G.
The moves follow a board-led strategic review that concluded T&G’s long-term growth lies in its intellectual property-led Apples and VentureFruit platforms, which it believes are well positioned to capture a larger share of the premium apple market. Proceeds and management focus from the divestments are intended to be redirected toward these scalable, higher-margin businesses, while a separate review of ownership options has begun after major shareholder BayWa Global Produce signalled its intention to exit its stake.
More about T&G Global Limited
T&G Global Limited is a New Zealand-based fresh produce company with a 125-year heritage originating as Turners and Growers. As part of the BayWa Global Produce family, it operates in 13 countries, growing and partnering with more than 700 growers to market and distribute fresh produce to customers in over 55 countries, with a particular focus on premium apples and proprietary fruit varieties.
Average Trading Volume: 3,156
Technical Sentiment Signal: Strong Buy
Current Market Cap: N$303.9M
Find detailed analytics on TGG stock on TipRanks’ Stock Analysis page.