Freshmax Group has successfully sold its New Zealand pipfruit business, inclusive of Freshmax Exports, Crasborn Fresh Harvest, Freshmax Orchards and Freshmax Farms. The Freshmax board accepted an offer by GTP Orchards Limited, an entity related to MNF Family Office Limited (MNF), and completion of the sale occurred on 27th September 2022.
MNF are a privately-owned New Zealand investment group with interests in a range of industries including manufacturing, automotive, sawmilling and forestry. MNF has a strong background in the primary industries and has been seeking to invest in a New Zealand horticultural business of scale. Freshmax’s New Zealand pipfruit operations present the perfect opportunity to realise this goal.
Freshmax Chairman, David Smith says: "The Freshmax Group has evolved over the journey from a New Zealand-based domestic-focused distribution business to an international business of scale with operations in five countries. We have made a decision to exit our vertically integrated Hawkes Bay pipfruit business, but will have a continued involvement in the NZ apple sector via our New Zealand-based export business, Valleyfresh. This sale allows our board to move forward and work with management to explore a number of new opportunities for the rest of the business with a continued focus on key categories – in the growing Asian market as well as the Australian market. I would like to acknowledge the efforts of all of the current staff in the pipfruit business and wish them all the very best in their journey ahead."
Group CEO, Murray McCallum: “Our pipfruit division has been an important contributor to our group for a number of years and I would like to acknowledge the wonderful efforts of our staff in this business over many years. This sale will enable our group to focus on and grow our other high-growth core categories across New Zealand and Australia, including cherries, berries, avocados and citrus. We have completed our transformation to become a category and IP-driven, internationally-focussed business together with our continued commitment to developing our domestic trading and services businesses in Australia. We look forward to the next stage in our journey.”
GTP Orchards Executive Director, Wade Glass: “We are excited to be associated with this Pipfruit business, most importantly the strong management team with its focus on preserving the Crasborn values built over many decades. We will be announcing a rebranding of the business in the coming weeks which aligns with the origins of the business. We will continue to work collaboratively with Freshmax to ensure a smooth transition over the coming months.”
For more information:
Murray McCallum
Phone +61 3 9688 5100
marketing@freshmax.com.au
www.freshmax.group