The shareholders of Global Fresh are very pleased to announce an exciting development.....

Tuesday 4th November 2014

Global Fresh investment signals next step in integration strategy

The Directors of Global Fresh NZ Ltd are pleased to announce the purchase of a 33% stake in Zeafruit Ltd, the Gisborne based citrus and avocado domestic marketing company.
This strategic investment is designed to support the company’s diversification strategy in providing a vehicle with the specialist resources required to manage domestic sales programmes for an increased range of New Zealand grown produce to both retail and wholesale customers in the New Zealand market.
Global Fresh is now well underway with its own diversified Australasian import programmes and is serving retail accounts directly. At some future point Zeafruit could also provide a service platform for the import range but in the immediate term with continue to focus primarily on expanding opportunities for New Zealand products.
Since establishing Global Fresh Australia Pty Ltd earlier in the year, the company has developed partnerships for the supply of premium quality branded tomatoes, melons, mangoes, and citrus from Australia. Counter seasonal citrus supply from California is now in the pipeline also.
These products will complement the Global Fresh fruit offer adding to its existing range of key categories avocados, kiwifruit and apples, enabling a broader retail chain relationship.

Managing Director Andrew Darling comments “With our Just Avocados Ltd facility contributing around 40% of Zeafruit’s avocado programme requirements and the strong position they have established in citrus, there were obvious synergies to be built on for our expanding produce range”.
Adding “Primarily we are packer-marketers with a strong export focus and skillset, and while we could have invested in staff and systems to build a domestic market business unit, it takes time and would only add yet another player to the game. We had a more immediate need and saw it was far better to align our respective growth strategies and invest in Zeafruit to build on progress being made together”.

Zeafruit General Manager Glen Dunseath comments “We are excited to be integrating our business with Global Fresh and Just Avocados, cementing what has become a strong and effective supply partnership developed over the past 2 years”.
Glen adds “Zeafruit has enjoyed steady incremental growth in its share of the New Zealand retail segment in recent seasons, so with the Global Fresh shareholding and a smarter strategic collaboration in pursuing customer solutions for both existing and new product lines, we become an increasingly relevant participant in this market”.
For further information please contact Andrew Darling on 021-497-666.