T&G Global Focuses on Premium Apples After Fresh Business Sale

T&G Global Limited reported six‑month results to 30 June, with revenue of $572.3 million, a 2.6% increase year‑on‑year, and operating profit up 30% to $11.6 million. The gain was offset by an impairment charge on the divested T&G Fresh assets, resulting in a net loss of $30 million. Chair Benedikt Mangold, representing majority shareholder BayWa, said the performance builds on the company’s premium‑apple and VentureFruit platforms.

The company has completed three transactions to sell its T&G Fresh business: the New Zealand fresh‑produce unit to the Turner family (subject to Commerce Commission clearance), the Fijian and Pacific Islands export business to Bidfood, and a 51% stake in Unearthed Produce Limited to Pukekawa Holdings and Ashsadeep. The Australian blueberry farm will be retained within the VentureFruit division. CEO Gareth Edgecombe said the divestments allow T&G Global to concentrate capital on its Apples and VentureFruit businesses, which target the growing premium fresh‑fruit market worth billions of dollars.