Cedenco will take over the company in its entirety. This includes the employees and the company's assets in Hastings and Nelson, both in New Zealand. In addition, Cedenco has signed a long-term lease agreement for ENZA Food 's properties in Hastings. T&G's top fruit branch has also made a long-term deal regarding the supply of top fruit for processing. The sale must be finalised on 20 April. Until then, all activities will remain part of T&G.
T&G has also signed an agreement for the sale of the small pouch format assets in Nelson to NZ Apple Products Limited. The company has entered into a three-year lease contact with NZ Apple Products Limited in Nelson.
Negotiations are also underway regarding the apple juice concentrate facility in the same town. T&G expects to be able to have a definite answer in the near future.
T&G does not expect these sales to have a influence on their yearly results. CSO, Tim Clarkson, says they are pleased with the cooperation of the partners for their processed fruit branch as well as the positive outcome for the employees. "T&G Food's employees, products, and product facilities will benefit from being owned by
Cedenco and NZ Apple Products Limited. Both these companies are focused on the processing of fruit. They are also prepared to make long-term investments. The New Zealand apple and pear sectors need good fruit processing facilities and T&G is pleased with these strong, local partners."