Costa Group has signed conditional agreements to acquire KW Orchards citrus farm’s farming operations and an associated packing operation, EJT citrus packing facility.
The Australian produce company says that both the assets are located in south west New South Wales and are within the Sunraysia region.
The EJT facility is a medium-scale citrus packing operation located 30 minutes from the KW farm.
The acquisition will be funded from existing debt facilities and is expected to be completed later this month.
“This quality acquisition will bring Costa’s total citrus hectares in the Sunraysia region to circa 700 hectares, with further acquisitions in this region planned over CY21,” said Costa Group CEO, Harry Debney.
“KW Orchards has an attractive varietal mix well suited to the export market, and it will play an important role in our capacity to take further advantage of strong citrus export demand.”
Costa Group recently announced that it had commenced preliminary planning for the development of a large-scale citrus packing facility that will be located in Mildura, Victoria. The facility will have the capacity to pack both Costa and third-party volumes from the Sunraysia region.
© FoodBev Media Ltd 2022
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