Costa Group acquires Lankester Avocado

One of Australia's leading horticultural companies, Costa Group Holdings, has announced the acquisition of Lankester Avocado. The strategic acquisition is another step in executing Costa’s strategy to build avocados into the company’s fifth vertically integrated core produce pillar, and is expected to be completed by the end of July, said Harry Debney, Costa Group CEO.

“Our production and supply period will now span from February to August, bringing us closer to achieving 52 week supply and our ultimate goal to be the number one grower, packer and marketer of avocados,” said Debney.

Lankester Avocados is a grower of avocados with three farms located in the Atherton region of Far North Queensland. The business also undertakes packing and marketing activity for third party growers.

There are total plantings of 130 hectares across the three farms with the season running from February through to June. An additional 60 hectares will be planted over the coming 12 months.

“With the current circa 370 hectares of avocados Costa has in central Queensland and the South Australian Riverland, this acquisition will bring the Company’s total plantings to circa 500 hectares and allow us to continue to build our production scale”, said Debney.

source: businessnewsasia.com