T&G Global Limited Agreement with Freshmax NZ Limited

December 17, 2019

T&G Global Limited Agreement with Freshmax NZ Limited

T&G Global Limited enters into agreement with Freshmax NZ Limited (Freshmax NZ) –
the Domestic Fresh Produce business of Freshmax Group Pty Limited

T&G Global Limited (formerly Turners and Growers), a leading fresh produce company in
New Zealand, has entered into an agreement to acquire the New Zealand domestic fresh
produce business Freshmax NZ Limited (Freshmax NZ) as it looks to strengthen its New
Zealand produce business.
The purchase price paid to Freshmax Group Pty Limited, the owners of Freshmax NZ, is
NZ$30.0m on a debt free and cash free basis.
A large proportion of Freshmax NZ business is the provision of distribution services to its
customers which is complimentary T&G Global’s NZ Produce business. The merger of these
two NZ businesses will bring enhanced trading relationships and strong ongoing supply
relationships in key categories.
“This acquisition demonstrates a strong commitment to our domestic business on which we
were founded 122 years ago and signals the importance of having a vibrant home market for
our Kiwi-based company with a global footprint,” says T&G Global CEO Gareth Edgecombe.
The purchase deal, which does not include Freshmax Group Pty Limited’s international
operations, has been signed and is subject to a number of conditions, including review by the
Commerce Commission.
Both Freshmax NZ and T&G Global’s NZ Produce business will continue business as usual
until the necessary conditions are satisfied and the transaction closes.

For further information please contact:
Gareth Edgecombe Andrew Keaney
Chief Executive Officer Managing Director New Zealand Produce
T&G Global Limited T&G Global Limited
Phone: 027 2092305 Phone: 021 532639
Email: Gareth.Edgecombe@tandg.global Email: Andrew.Keaney@tandg.global

About T&G Global
T&G Global is one of New Zealand’s largest growing, packing, shipping and marketing companies with
a global footprint. The company is passionate about growing healthier futures through fresh fruit and
vegetables. Our success comes from consistent and sustainable growing practices, committed
growers, valued customers and a passionate team of people around the world. T&G apples, including
the premium, kiwi-bred varieties Jazz™ and Envy™, are grown in 13 countries and sold in more than
45 countries year-round.
About New Zealand Produce Division (NZP)
NZP is a division of T&G Global and is a leader in the provision of fresh produce across New Zealand,
the Pacific Islands, Australia and Asia. The division comprises of the New Zealand Markets business,
citrus berry and tomato growing operations, tomato and root vegetable packing operations, T&G
Transport, Pacific Islands Export Business, and Diversified Exports from New Zealand.