Acquisition will see Roc Partners invest significantly in the company’s growth while maintaining existing structure and leadership
Freshmax Group, a leading player in the Australasian fresh produce industry, has announced its acquisition by Sydney-based alternative investment manager, Roc Partners.
The move comes after Freshmax Group revealed it was seeking a strategic partner in May 2024 to help drive the future growth and development of the business.
Roc Partners plans to invest significantly in the company’s growth and development while maintaining the business’ existing structure and leadership, a Freshmax release explained.
The investment manager specialises in private market investments, with approximately A$9bn capital funds under management across private equity, private credit and real assets.
Roc Partners currently manages A$2.5bn in assets in its food and agriculture portfolio and maintains a dedicated agricultural investment team. The acquisition underscores its commitment to driving growth in the sector.
“This milestone marks the beginning of an exciting new chapter for Freshmax,” said Freshmax Group chief executive, Murray McCallum.
“Roc Partners’ deep expertise and proven track record in food and agriculture make them an ideal partner for the next phase of our journey. Together, we will look to explore new growth opportunities, while continuing to deliver exceptional value to our supplier and customer partners around the world.”
Roc Partners vice president - food and agriculture, Todd Winkley said Freshmax represented “a compelling opportunity” for investment due to its growth and experienced management team.
“We intend to use this strong foundation as a platform for further expansion,” Winkley said. “We are committed to leveraging our resources and expertise to support Freshmax in achieving its ambitions, nurturing continued innovation, and strengthening its position in the global fresh produce market.”
Glenn Wallace, Freshmax Group chairman, added: “The acquisition by Roc Partners ensures a stable and strategic future for Freshmax. Their understanding of the food and agriculture sectors and their commitment to sustainable growth perfectly align with our vision. We look forward to seeing Freshmax thrive under their stewardship”.
The sale process was conducted by Kidder Williams, a leading corporate advisory firm in food and agribusiness transactions.