Tim Goodacre, former chief executive of international kiwifruit marketer Zespri Group Limited and a leading figure in the Australasian agribusiness sector, has returned to the fresh produce business as chairman of Mr Apple, New Zealand's largest apple grower.
Goodacre, who led Zespri for more than four years until his departure in March 2007, had originally declared on his departure from the group that he would seek another senior corporate role before stepping out of the business arena entirely, but Eurofruit can reveal he has been working as Mr Apple's new chairman for the past few months.
A filing signed by Goodacre and submitted by the Christchurch office of legal firm Anthony Harper to New Zealand's Companies Office on behalf of Mr Apple confirmed the appointment started on 15 February 2012.
His dramatic return to the New Zealand fruit trade will come as a surprise to many, with industry insiders suggesting his appointment made perfect sense for Mr Apple as it sought to consolidate its position as the major player in New Zealand's apple sector.
'This is a very positive appointment for New Zealand horticulture as a whole,' one source told Eurofruit. 'Tim is highly regarded, hard working and has an excellent track record in agribusiness.'
The fact that Goodacre hails from neighbouring Australia is also thought likely to be a positive, especially given the recent opening of Australia's market to New Zealand apples.
The appointment also bodes well for continued improvement in commercial relations between Turners & Growers (T&G), a major exporter of New Zealand topfruit – including fruit sourced from its largest supplier Mr Apple – and Zespri.
Ownership of Mr Apple changed hands in July 2011 after a consortium of investors – led by NZ private equity firm Direct Capital Investments – acquired the 79.9 per cent stake in its parent company Scales Corporation held by South Canterbury Finance, which had gone into receivership, for NZ$44m.
More recently, Scales purchased a 10.1 per cent shareholding in T&G for NZ$23m, effectively blocking the company's complete takeover by German group BayWa and ensuring it would remain listed on the NZ Exchange.
BayWa holds just over 73 per cent of T&G, with the remainder held by institutions and public investors.
Goodacre's appointment is apparently due to be confirmed in public by Scales, although at the time of publication no statement other than the legal consent form was available either from Scales itself or via New Zealand's Companies Office.
His re-emergence as chairman of Mr Apple was also flagged up in the recent annual report of Pohutukawa II, a New Zealand-based private equity fund established by investment consultancy Craigs Investment Partners and Direct Capital Investments which currently holds a 9.1 per cent share in Scales.
According to the report, Scales has a 'strong interest' in working with T&G via Mr Apple to consolidate the New Zealand apple industry and to 'enhance grower and industry returns in areas such as reducing supply chain costs'.
In that context, Goodacre's appointment has an added significance given his broad experience of working in the country's horticultural export business.
Mr Apple operates 20 orchards, three packhouses and coldstorage facilities, and employs up to 1,800 people in peak season.
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