New Zealand grower-owned co-operative, Market Gardeners Limited, trading as the MG Group has sold its 70 per cent stake in Premier Fresh Australia to its Australian long-term business partners.
Premier Fresh Australia CEO, Anthony Di Pietro, and Mark LoGiudice have been directors of the Australian business since 2016. Together with some smaller shareholders they now own the company outright.
MG Group CEO, Peter Hendry, says the opportunity to direct time and resources towards the co-operative’s New Zealand operations will enable it to better meet the needs of its shareholders, grower-suppliers, and customers.
“It’s a win-win situation, with the MG Group able to have a sharper focus on our New Zealand operations, while our long-term business partners, Anthony Di Pietro and Mark LoGiudice, get to take majority ownership of the business they know well,” Hendry said.
“It effectively allows both the MG Group and Premier Fresh Australia to develop and grow within their respective markets.”
