T&G mulls property sale and leaseback, writes off $28M on pip and kiwifruit assets

Thu, 28 Jun 2012

June 28 (BusinessDesk) - Fresh produce distributor Turners & Growers is looking at options to sell and lease back parts of its property portfolio and to sell non-core activities as it chases greater profitability following the takeover of 73 percent of the company by Germany's BayWa last year. At the firm's annual meeting in Auckland today, chairman Klaus Josef Lutz said T&G would also examine local "add-on" acquisitions to consolidate the New Zealand grower market, packaging and production facility investments, and opportunities in internatio...

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