T&G Global Limited has responded to recent media coverage regarding a potential sales process, following reports that its German parent is seeking a buyer for the business.
The company stated that, as previously advised in July 2025, it is undertaking a process to consider its strategic options. "No decision has been made at this time in respect of that process."
T&G Global also confirmed that its largest shareholder, BayWa AG, which holds almost 74 per cent of the business, has announced its intention to sell its shareholding. "T&G Global confirms that it has appointed Goldman Sachs to assist the Company in respect of that matter."
The company added that it will continue to update the market in line with disclosure obligations.
© BayWa AG
BayWa AG acquired its majority stake in T&G Global, formerly Turners & Growers, in 2012. The New Zealand-based company is active in fruit and vegetable growing, marketing, and exports, and holds intellectual property for apple brands including Envy and Jazz.
BayWa has indicated plans to divest parts of its international operations following challenges in its German business. In late 2024, the group outlined restructuring measures, including the closure of 26 unprofitable locations out of 400 globally, with its New Zealand operations included among those under review.
T&G Global's recent performance shows a return to profitability, reporting a net profit of US$16 million last year, compared with a US$9.9 million loss the previous year. The recovery follows impacts from Cyclone Gabrielle, which affected apple-growing regions in Hawke's Bay.
BayWa has also reached an agreement with creditors on a restructuring roadmap through to 2027, which includes the sale of identified international businesses.
Market reports have indicated that the sales process has faced complications involving minority shareholders, including Hong Kong-based Joy Wing Mau Group, which holds close to 20 per cent of T&G Global. The company did not comment further on these reports, reiterating that no decision has been made regarding its strategic review.
© T&G GlobalFor more information:
Adrienne Sharp
T&G Global
Tel: +64 (0) 27 801 5534
Email: [email protected]
www.nzx.com
