MUNICH (dpa-AFX) - BayWa AG (BYWG) reported that its subsidiary based in New Zealand, Turners & Growers Ltd., an exporter and producer of fresh fruit, has agreed upon the acquisition of Apollo Apples Ltd., a producer and exporter of apples, based in New Zealand, with its shareholders. The purchase price is approximately 23 million euros, plus a performance-based premium.
The take-over also includes the acquisition of the title and the leasehold rights to a total of approx. 500 hectares of crop area in the Hawke's Bay region. The annual trading volume of Apollo is 25,000 tonnes of apples.
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