Murray River Organics has sold its table grape property in Merbein, Victoria for $5.5 million. The property was sold to Manta Farms, managed by US-based RRG Capital Management, in December, following a lengthy transaction process.
According to Murray River Organics managing director Valentina Tripp, the sale of its conventional Table Grape property at Fifth Street, Merbein represents a further milestone in the company’s strategy to decrease its debt.
“We are well progressed with our non-core farm asset divestments, which includes the recent sale of our conventional citrus and wine land parcel at Nangiloc to the Costa Group,” Tripp told foodanddrinkbusiness.com.au.
“With this announcement we have now secured over $10 million in non-core asset sales, allowing us to focus on our core organic dried vine farming operations and growing our Murray River Organics branded food portfolio.”