Turners & Growers shareholders have confirmed they have bought apple marketer Enza.
Guinness Peat Group owned all of the former monopoly marketing producer board Enza and owns 46 per cent of Turners.
GPG director Tony Gibbs is the chairman of both companies.
Privately owned Naboa, Ecuador's biggest banana exporter, owns 25 per cent
of Turners and the balance of the shares are owned by about 800 growers.
Gibbs said the merger was carried out by issuing 44.2 million shares to GPG.
At Turners annual meeting, he said Turners shares traded on the unlisted market but it was intended that the new company would seek full listing on the Stock Exchange.
Enza had a worldwide sales infrastructure, with overseas representation in all major markets, something that Turners had never been able to afford, Gibbs said.
The merger would mean a growth in assets from $124 million to more than $400 million.
