New Zealand-based ingredients and food distributor Cedenco has acquired processed food business ENZAFoods New Zealand (T&G Foods) from T&G Global for an undisclosed sum.
ENZAFoods New Zealand operated as T&G Global’s processed food business, and Cedenco will also acquire T&G’s employees and assets in Hastings and the fruit ingredient assets based in Nelson.
T&G Global will continue to operate T&G Foods while the transaction is processed, and the brand estimates the transition to Cedenco will be completed on 20 April 2018.
As part of the agreement, T&G Global’s pipfruit division will also supply Cedenco with apples for the production of processed apple products.
Tim Clarkson, chief strategy officer for T&G, said: “T&G Foods’ people, products and production facilities will benefit from being owned and operated by Cedenco and NZ Apple Products Limited who are both focused on fruit processing and are willing to invest for the long-term.
“The New Zealand apple and pear industry needs good fruit processors and T&G is delighted to have such strong local partners to take the business forward.”
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