T&G Global and the New Zealand Superannuation Fund have extended their partnership with the sale of T&G’s Riwaka orchard in Nelson to the NZ Super Fund’s rural investment manager, FarmRight. The 194-hectare orchard, with 14 hectares planted in the premium Envy™ apple variety, will be operated by T&G until May 31, 2023, after which FarmRight will take over. T&G’s permanent Riwaka team members will join the FarmRight team. The NZ Super Fund plans to invest in and further develop the site, including planting more Envy™ apples. The capital raised from the sale will be reinvested in T&G’s Envy™ growth strategy. The transaction was settled on December 16, 2022, marking the third partnership between T&G and FarmRight.
Read the full press release on the NZ Super Fund website:
https://nzsuperfund.nz/news-and-media/nz-super-fund-extends-partnership-and-expansion-plans-with-t-and-g/