New Zealand grower-owned co-operative, Market Gardeners Limited, trading as the MG Group, has announced the sale of its 70% stake in the Australian business, Premier Fresh Australia, to business partners Anthony Di Pietro and Mark LoGiudice.
Anthony Di Pietro, who has been the CEO and a Director of the Australian operation since 2016, and Mark LoGiudice, who has also been a Director since 2016, along with a number of smaller shareholders, collectively held a 30% stake in Premier Fresh Australia. The Australian-based group will now take full ownership.
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,” says Hendry.
“It effectively allows both the MG Group and Premier Fresh Australia to develop and grow within their respective markets.”
