The Commerce Commission has received a clearance application from Turners & Growers Fresh Limited (T&G) to acquire 100% of the shares in Freshmax NZ Limited (Freshmax).
T&G and Freshmax are both involved in the supply of fruit and vegetables (fresh produce) to supermarkets and other parties in New Zealand.
T&G grows, imports and wholesales fresh produce in New Zealand and exports locally grown fresh produce. T&G also operates a produce distribution network and undertakes a small amount of contract ripening for customers. T&G is a wholly owned subsidiary of T&G Global Limited.
Freshmax imports and wholesales fresh produce in New Zealand. Freshmax also provides distribution, fumigation, packing, ripening, quality control and cool-store services. Freshmax is a wholly owned subsidiary of Freshmax NZ Group Limited.
A public version of the clearance application will be available shortly on the Commission’s case register.
Background
The Commission will give clearance to a proposed merger if they are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
Further information explaining how the Commission assesses a merger application is available on their website.