Fresh Produce Group (FPG) today announces an important milestone in its more than 30-year history, with the successful completion of a majority investment by Australian agriculture investment manager, Macquarie Asset Management (MAM), on behalf of its managed funds and clients. MAM's Agriculture platform has extensive experience in establishing and investing in leading Australian agribusinesses. The investment provides FPG with access to capital and the capability to further its footprint expansion in its next phase of growth, as well as the opportunity to enhance its existing strong governance model and disciplined approach to investment and strategy execution.
FPG's founders and co-CEOs, Robert Nugan and Anthony Poiner, will retain the remaining interest in the business and continue to lead and manage FPG alongside MAM. Robert Nugan, Co-CEO of Fresh Produce Group, commented: "The FPG team is looking forward to working with MAM Agriculture. Our partnership with MAM will bring considerable knowledge, expertise, and resources to FPG. MAM's investment also aligns with FPG's strategic goals, and we are excited about the opportunities it presents for accelerated development and the ongoing success and maturation of the business."
Colin Rigg, Head of Agriculture and Natural Assets at Macquarie Asset Management, said: "We are very pleased to partner with FPG as one of Australia's integrated horticultural businesses. We look forward to working closely with Robert, Anthony, and the entire FPG team to continue building on the business's strengths and supporting its continued growth, development, and leadership in the fresh produce sector."
For more information:
Margaret Mason
Fresh Produce Group
Tel: +61 0414 581 786
Email: [email protected]
www.fpg.com.au