Newspaper report suggests plan to break up NZ supplier ‘put off’ private equity company, as sale process continues
Private equity firm Roc Partners has reportedly “walked away” from discussions over the potential acquisition of New Zealand grower-exporter T&G Global, according to a report in The Australian.
“T&G Global’s attempt to sell itself in stages has backfired, with one of agriculture’s biggest private equity players pulling out over the company’s ‘deal-breaker’ structure,” the newspaper stated.
In early April, the Australian Financial Review reported that T&G Global was considering breaking up its T&G Fresh division as part of the sale process.
The report said it had solicited buyers for its entire Fresh division, which includes production, marketing and distribution operations, but was also weighing up a proposal to sell off parts of the division as individual units.
A few days before that, T&G Global revealed it had appointed Goldman Sachs to help its German parent company, BayWa AG, sell its controlling stake.
