Packaging manufacturer Pact and NZ fruit marketer T&G are looking to pool their resources.
T&G Global, the New Zealand fruit marketer controlled by Germany's BayWa, has sold its crate hire unit to packaging manufacturer Pact Group for $21 million as part of a deal where the two companies look to pool their resources and build up the business.
The sale of T&G's Fruit Case
Co is expected to be completed about July 1, with Pact acquiring the crate hire firm's assets, brands and trademarks while continuing to operate from T&G-owned and leased sites around New Zealand.
T&G will keep using Fruit Case Co's internal crate business and Pact will use T&G Transport to move crates between depots.
As part of the deal, T&G and Pact said they would support Fruit Case Co's business through shared research, technology and business improvements.
"For T&G, the supply arrangements with Pact are part of our strategy to strengthen relationships with market leading experts and focus T&G's resources on strengthening its position as a leading producer, marketer and exporter of fresh produce," chief executive Alastair Hulbert said.
