T&G Global buys domestic Freshmax business for $30m

Tue, 17 Dec 2019

T&G Global has agreed to buy Freshmax Group’s domestic New Zealand business for $30 million, the same day that it warned profit would more than halve. The fruit exporter said it wants to strengthen its New Zealand produce business with the acquisition. The price is on a debt free and cash free basis, and the deal is subject to several conditions, including Commerce Commission approval, T&G said in a statement to the stock exchange. T&G will take on three Freshmax market sites in Auckland, Wellington and Christchurch and di...

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