NZX-listed exporter T&G Global has disclosed receiving numerous expressions of interest concerning a potential sale. The Australian Financial Review suggested Australia's ROC Partners, with extensive agricultural operations across the Tasman, showed interest in a potential breakup of the company, owned nearly 74% by Germany's BayWa.
The publication indicated that T&G Global could complement Macquarie Asset Management, following its acquisition of a major stake in the Fresh Produce Group, one of Australia's largest fresh produce suppliers.
In response to speculation, T&G Global acknowledged awareness of the reports. A statement issued to the NZX mentioned that "following BayWa AG's December 2024 announcement that it is reducing its international investments as part of its business-wide transformation programme, T&G Global has received a large number of expressions of interest in its business."
T&G Global clarified that, currently, they are not informed whether BayWa has decided on its interest in T&G Global. Concurrently, T&G Global is evaluating its strategic options, engaging in sharing preliminary business information to assess the potential for future sales processes within its divisions.
The company has appointed Craig's Investment Partners to guide its strategic plans. T&G Global's market capitalization stands at approximately $220 million, with its shares recently valued at $1.79. A substantial portion of the company's revenue is derived from its apple division.
Source: New Zealand Herald
