One of Australia’s largest investors in the agriculture sector, with interests spanning wagyu beef, rock oysters, eggs and almonds, has its attention focused across the ditch on a $NZ276 million fruit and vegetable grower.
Street Talk understands ROC Partners likes the look of T&G Global, a New Zealand-listed fresh produce player that sells and distributes fruit and vegetables in more than 60 countries, and is preparing to throw its hat into the ring for a potential sale or break-up.
T&G Global would also be a logical bolt-on for Macquarie Asset Management, which acquired a majority share in one of Australia’s largest fresh produce providers, Fresh Produce Group, last year for over $175 million.
The Australian Financial Review revealed in March that T&G Global had appointed Craigs Investment Partners to conduct a strategic review. Now, Street Talk understands Craigs is gearing up to launch a formal sale process with an investment memorandum expected this month.
Read the full story tomorrow and more on the Street Talk page.
The Australian sharemarket closed in on its record high, tracking a rally on Wall Street, as mining stocks climbed after upbeat Chinese data pointed to a recovery in the construction sector.
