New Zealand private equity firm Maui Capital is reportedly putting it majority share of vertically integrate fresh produce company Freshmax Group up for sale, according to the Australian Financial Review.
Investment Bank Goldman Sachs is said to be shoring up interest in the Australasian firm among trade in Australia and Asia, seeking bidders for its 60 per cent stake in a deal which would value to company at some A$500m.
Maui Capital purchased the 60 per cent holding from Wolseley Private Equity in 2011, with Freshmax management retaining a 40 per cent share.
Since Wolseley bought into the group in 2006, Freshmax has acquired fresh produce companies including Panda Ranch, De Luca Banana Marketing and more recently merging with Crasborn Bros and investing in Valleyfresh and Valleyfresh North America.
Freshmax Group now spans Australia and New Zealand, growing, packing and marketing proprietary fruit including Modi apples, Sumo Citrus mandarins, Lani cherries and more.