Sale involves separating various T&G Fresh business units
T&G Global has agreed to the sale of its New Zealand fresh produce, Fijian and Pacific Islands export businesses, following through on plans announced earlier in 2026.
Bidfood Pacific Islands, a subsidiary of Bidfood will acquire T&G’s Fijian and Pacific Islands export businesses. This sale is expected to complete on 1 September 2026.
Pukekawa Holdings and Ashsadeep Company (or nominee), current minority shareholders in Unearthed Produce Limited (UPL), the domestic root crop prepacking operation, will acquire T&G’s 51 per cent shareholding in UPL. This sale is expected to complete on 31 July 2026.
J&P Turner, through its wholly owned subsidiary Turners & Growers (the Turner family or TGL) will acquire T&G’s New Zealand fresh produce business. This transaction requires clearance by the New Zealand Commerce Commission. The Turner family will lease from T&G the properties from which relevant growing units operate.
T&G chair, Benedikt Mangold, said the decision to sell T&G Fresh was part of the company’s broad long-term strategy to focus on its global premium IP-led Apples and VentureFruit platforms.
“With the global premium fresh fruit category worth US$89bn in 2025, and the premium apples segment worth US$13bn – and growing at 8 per cent CAGR out to 2030 – TGG’s Apples and VentureFruit businesses are strategically placed to capitalise on these very attractive growth opportunities,” said Mangold.
“By divesting T&G Fresh, it allows us to concentrate our focus and capital on our Apples and VentureFruit businesses, which are well positioned to increase market share and maximise shareholder value.”
T&G chief executive officer, Gareth Edgecombe, said the sale of T&G Fresh provided a strong future for this iconic business, while firmly positioning T&G Global for considerable growth.
“We have run a highly competitive sales process for the sale of T&G Fresh, with multiple interested bidders, and we are confident the three transactions deliver the optimum value for shareholders,” said Edgecombe.
“The sale involves separating various T&G Fresh business units, with each being acquired by high quality investors with strong strategic fit. Not all of T&G Fresh is currently being sold, with the Australian blueberry farm and associated marketing and trading business being strategically retained and reintegrated into VentureFruit, while certain property assets will be leased to the Turner family at market rates.
“Overall, despite realising an impairment of the T&G Fresh assets retained with the sales, the combined value of sale proceeds and of the assets retained is broadly in line with holding value, as estimated by our board and Craigs Investment Partners.
“Across all business units, TGG continues to perform strongly in 2026, and we will update the market on our interim results on 7 August.”
