Sumich buys Field Fresh Tasmania

Webster Limited is selling Forth-based onion business Field Fresh Tasmania for $10.15 million.

Webster said it had been approached about a sale in recent months, and had signed a contract of sale with Dandaragan Farms Pty Ltd and North East Equity Pty Ltd, jointly trading as Sumich.

Sumich is a major carrot grower and marketer.

The deal is expected to settle on June 30 next year.

Webster said the sale price was slightly more than book value.

The money would be for the assets plus the value of stock on settlement.

Source: www.theadvocate.com.au

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