New Zealand’s T&G Global is up for sale as its major shareholder, German conglomerate BayWa, plans to offload its 73% stake. T&G Global received interest after BayWa’s announcement of reducing investments, ending 2024 with a €1.6bn loss. The company is exploring strategic options and hired Craigs Investment Partners.

BayWa, aiming to refocus on core businesses, confirmed plans to sell T&G Global, with proceeds used to pay down debt. ROC Partners, an Australian investor in agriculture, has shown interest. T&G Global operates in 13 countries, distributing fresh produce to over 55 markets, including citrus, berries, tomatoes, and various vegetables.

In 2024, T&G Global reported a revenue of NZ$1.36bn, a 2.2% increase from 2023. The company’s full-year loss before tax narrowed to NZ$6.8m, with an operating profit of NZ$12.7m. Brands include Lotatoes, Beekist tomatoes, and Orchard Rd. The company is considering strategic options with its main investor looking to sell.

Read more at Yahoo Finance: T&G Global mulls options with main investor eyeing sale