Goldman Sachs to aid BayWa AG’s plans to sell majority shareholding in New Zealand-based fruit business
T&G Global has appointed Goldman Sachs to help its German parent company, BayWa AG, sell its controlling stake.
The New Zealand-headquartered vertically integrated produce company released a statement confirming the appointment but noted no decision had been made on the sale.
“As T&G Global previously advised the market in July 2025, the company is going through a process to consider its strategic options. No decision has been made at this time in respect of that process,” T&G Global said.
“As also previously advised to the market in July 2025, T&G Global’s largest shareholder, BayWa AG, has announced that it is proposing to sell its shareholding in the company. T&G Global confirms that it has appointed Goldman Sachs to assist the company in respect of that matter.”
The statement was released in response to a report by The Australian, which suggested T&G Global was relaunching its sale efforts in the coming weeks.
The report claimed conflicting shareholder interests – between BayWa AG, which owns 73.99 per cent of the business, and Joy Wing Mau, which holds a 19.99 per cent share – have disrupted the sale process in the past.
T&G Global is listed on the New Zealand Stock Exchange with a market value of NZ$295mn as of 27 March, and the report said potential buyers are expected to include global agriculture-focused private equity firms such as Roc Partners, Paine Schwartz and Hancock.
BayWa AG first revealed its plan to increase efficiency and profitability in December 2024 as part of a major operational restructuring. T&G said in its annual report 2025 that BayWa intends to liquidate its majority shareholding within the next two years.
