Western Australian wholesale fruit and vegetable entity up for sale

Administrators have taken control of one of Western Australia's biggest agribusinesses that partly owns Indigenous fruit and vegetable company Abundance Produce Australia. Urgent expressions of interest are being sought by Hamilton Murphy Advisory's Stephen Dixon and Brett Orzel to restructure or purchase Odeum Produce Pty Ltd. While the Abundance entity, of which it owns 49 per cent, was not affected, shares in the Indigenous business were also for sale.

Odeum was established in 1988 and reportedly now generates annual revenue upwards of $60 million and employs about 100 staff, although the extent of its debt was still unknown. It formed a strategic partnership in 2019 with Abundance, a majority-owned First Nations business headed by ex-West Coast star Phil Matera.

Administrators said Odeum Farms was a major supplier of fruit and vegetables to supermarket chains in WA and across Australia, with several brands including Rockstar Melons and Mr Mushroom. It has locations in Baldivis and Wanneroo and affiliated farm partners in Geraldon, Carnarvon and Kununurra.

Source: nit.com.au

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