T&G Global agrees the sale of its T&G Fresh business

MARKET UPDATE 31 July 2026 T&G Global agrees the sale of its New Zealand fresh produce, Fijian and Pacific Islands export businesses T&G Global Limited has agreed to sell its T&G Fresh business through three transactions: (1) Bidfood Pacific Islands Limited, a subsidiary of Bidfood Limited (“Bidfood”) will acquire T&G’s Fijian and Pacific Islands export businesses. This sale is expected to complete on 1 September 2026. (2) Pukekawa Holdings Limited and Ashsadeep Company Limited (or nominee), current minority shareholders in Unearthed Produce Limited (“UPL”), the domestic root crop prepacking operation, will acquire T&G’s 51% shareholding in UPL. This sale is expected to complete on 31 July 2026. (3) J & P Turner Limited, through its wholly owned subsidiary Turners & Growers Limited (“the Turner family” or “TGL”) will acquire T&G’s New Zealand fresh produce business. This transaction requires clearance by the New Zealand Commerce Commission. T&G Global Limited ("TGG" or the "Company") today announced it has agreed the sale of its T&G Fresh business, through three transactions. Sale and purchase agreements have been entered into with Bidfood, for T&G’s Fijian and Pacific Islands export businesses; with Pukekawa Holdings Limited and Ashsadeep Company Limited (or nominee) for T&G’s 51% shareholding in Unearthed Produce Limited; and with the Turner family, for TGG’s New Zealand fresh produce business, subject to Commerce Commission clearance. The Turner family will lease from TGG the properties from which relevant growing units operate. TGG Chair, Benedikt Mangold, says the decision to sell T&G Fresh is part of the Company’s broad long-term strategy to focus on its global premium IP-led Apples and VentureFruit platforms. “With the global premium fresh fruit category worth US$89 billion in 2025, and the premium apples segment worth US$13 billion – and growing at 8% CAGR out to 2030 – TGG’s Apples and VentureFruit businesses are strategically placed to capitalise on these very attractive growth opportunities,” says Mr Mangold. “By divesting T&G Fresh, it allows us to concentrate our focus and capital on our Apples and VentureFruit businesses, which are well positioned to increase market share and maximise shareholder value.” TGG Chief Executive Officer, Gareth Edgecombe, says the sale of T&G Fresh provides a strong future for this iconic business, while firmly positioning T&G Global for considerable growth. “We have run a highly competitive sales process for the sale of T&G Fresh, with multiple interested bidders, and we are confident the three transactions deliver the optimum value for shareholders,” says Mr Edgecombe. “The sale involves separating various T&G Fresh business units, with each being acquired by high quality investors with strong strategic fit. Not all of T&G Fresh is currently being sold, with the Australian blueberry farm and associated marketing and trading business being strategically retained and reintegrated into VentureFruit, while certain property assets will be leased to the Turner family at market rates. “Overall, despite realising an impairment of the T&G Fresh assets retained with the sales, the combined value of sale proceeds and of the assets retained is broadly in line with holding value, as estimated by our Board and Craigs Investment Partners Limited. “Across all business units, TGG continues to perform strongly in 2026, and we will update the market on our interim results on 7 August.” The attached appendix provides further information on the transactions. -ENDS- For further information, please contact: Adrienne Sharp Head of Corporate Affairs T&G Global Limited +64 (0)27 801 5534 adrienne.sharp@tandg.global About T&G Global T&G Global’s story began more than 125 years ago as Turners and Growers, and today the business helps grow healthier futures for people around the world. As a part of the BayWa Global Produce family, T&G has offices in 13 markets and its team of 1,780 people both grow and partner with over 700 growers to market, sell and distribute nutritious fresh produce to customers and consumers in over 55 countries. It does this guided by kaitiakitanga - treating the land, people, produce, resources, and community with the greatest of respect and care, as guardians of their future. www.tandg.global