T&G Global Limited
T&G Global (consumer brands ENVY, JAZZ, JOLI, TUTTI, Orchard Rd, Beekist and Lotatoes; the New Zealand domestic business trades as T&G Fresh)
T&G Global Limited is a New Zealand fresh-produce company listed on the New Zealand Exchange as TGG, in which the value sits largely in proprietary plant varieties rather than in orchards. Its head office is at Central Park, 660 Great South Road, Ellerslie, Auckland, and its own wording is that the business began as Turners and Growers more than 125 years ago, with no founding year stated. BayWa Global Produce GmbH, part of Germany's BayWa AG, holds about 74%, and Joy Wing Mau Group of Hong Kong about 20%.
The commercial model is intellectual property plus export marketing. T&G owns and manages apple varieties including ENVY, JAZZ, JOLI and TUTTI, licenses their cultivation to growers in more than 13 countries, and sells the fruit into more than 55 markets. The strategy has produced a demonstrable brand: on 15 April 2026 ENVY became the first New Zealand apple brand to pass NZ$1 billion in cumulative global retail sales, and United States household penetration rose from 7.2% in 2023 to 12.4% in 2025.
FY2025, the year ended 31 December 2025, was a sharp recovery. Group revenue was NZ$1.6 billion, up 14% from NZ$1.4 billion, with operating profit of NZ$46.9 million against NZ$12.7 million, profit before tax of NZ$21.9 million and net profit after tax of NZ$16.0 million against a prior-year loss of NZ$9.9 million. The apples division earned NZ$1.0 billion, up 22%, with divisional operating profit of NZ$74.7 million, about 63% of group revenue rather than the 67% in the research document. T&G Fresh contributed NZ$461.0 million and VentureFruit NZ$9.0 million, the latter at an operating loss of NZ$2.4 million.
The domestic business is being sold, and the transaction is agreed rather than under evaluation. On 31 July 2026 T&G signed and largely completed the disposal of T&G Fresh in three parts: the Fiji and Pacific Islands export business to Bidfood Pacific Islands Limited, completing on 31 August and 1 September 2026; 51% of Unearthed Produce Limited to Pukekawa Holdings and Ashsadeep, completed on 31 July 2026; and the New Zealand domestic fresh produce business to J & P Turner Limited, subject to Commerce Commission clearance.
Control of the company is itself in play. BayWa announced in July 2025 that it wanted to sell its roughly 74% holding, T&G confirmed on 26 March 2026 that Goldman Sachs had been engaged, and the process has been blocked by the approximately 20% shareholder Joy Wing Mau Group; it remained unresolved as of October 2026. None of that makes T&G a subsidiary of a Fortune Global 500 company: BayWa AG is not a Fortune Global 500 company, having reported FY2024 revenue of EUR 21.1 billion, about US$22.8 billion, with EBIT of about negative EUR 1.1 billion, and a subsidiary would not inherit the status in any case.
The variety pipeline is where growth is aimed. ENVY is the third-largest apple brand in China, first in Vietnam and second in Thailand, with China sales up 26% in the first half of 2026, and T&G licensed 300 hectares of TUTTI apples to Joy Wing Mau in 2025. JOLI was launched with 273 hectares licensed in New Zealand against a global target of 1,500 hectares by 2035. Two research claims are not repeated because neither could be verified: that China is about 30% of apple export value, some US$180 million, and that T&G produces or licenses 350,000 tonnes of proprietary apples a year, a volume it reports in tray carton equivalents.
Read More ▼Show Less ▲
T&G Global Limited is a New Zealand fresh-produce company listed on the New Zealand Exchange as TGG, in which the value sits largely in proprietary plant varieties rather than in orchards. Its head office is at Central Park, 660 Great South Road, Ellerslie, Auckland, and its own wording is that the business began as Turners and Growers more than 125 years ago, with no founding year stated. BayWa Global Produce GmbH, part of Germany's BayWa AG, holds about 74%, and Joy Wing Mau Group of Hong Kong about 20%.
The commercial model is intellectual property plus export marketing. T&G owns and manages apple varieties including ENVY, JAZZ, JOLI and TUTTI, licenses their cultivation to growers in more than 13 countries, and sells the fruit into more than 55 markets. The strategy has produced a demonstrable brand: on 15 April 2026 ENVY became the first New Zealand apple brand to pass NZ$1 billion in cumulative global retail sales, and United States household penetration rose from 7.2% in 2023 to 12.4% in 2025.
FY2025, the year ended 31 December 2025, was a sharp recovery. Group revenue was NZ$1.6 billion, up 14% from NZ$1.4 billion, with operating profit of NZ$46.9 million against NZ$12.7 million, profit before tax of NZ$21.9 million and net profit after tax of NZ$16.0 million against a prior-year loss of NZ$9.9 million. The apples division earned NZ$1.0 billion, up 22%, with divisional operating profit of NZ$74.7 million, about 63% of group revenue rather than the 67% in the research document. T&G Fresh contributed NZ$461.0 million and VentureFruit NZ$9.0 million, the latter at an operating loss of NZ$2.4 million.
The domestic business is being sold, and the transaction is agreed rather than under evaluation. On 31 July 2026 T&G signed and largely completed the disposal of T&G Fresh in three parts: the Fiji and Pacific Islands export business to Bidfood Pacific Islands Limited, completing on 31 August and 1 September 2026; 51% of Unearthed Produce Limited to Pukekawa Holdings and Ashsadeep, completed on 31 July 2026; and the New Zealand domestic fresh produce business to J & P Turner Limited, subject to Commerce Commission clearance.
Control of the company is itself in play. BayWa announced in July 2025 that it wanted to sell its roughly 74% holding, T&G confirmed on 26 March 2026 that Goldman Sachs had been engaged, and the process has been blocked by the approximately 20% shareholder Joy Wing Mau Group; it remained unresolved as of October 2026. None of that makes T&G a subsidiary of a Fortune Global 500 company: BayWa AG is not a Fortune Global 500 company, having reported FY2024 revenue of EUR 21.1 billion, about US$22.8 billion, with EBIT of about negative EUR 1.1 billion, and a subsidiary would not inherit the status in any case.
The variety pipeline is where growth is aimed. ENVY is the third-largest apple brand in China, first in Vietnam and second in Thailand, with China sales up 26% in the first half of 2026, and T&G licensed 300 hectares of TUTTI apples to Joy Wing Mau in 2025. JOLI was launched with 273 hectares licensed in New Zealand against a global target of 1,500 hectares by 2035. Two research claims are not repeated because neither could be verified: that China is about 30% of apple export value, some US$180 million, and that T&G produces or licenses 350,000 tonnes of proprietary apples a year, a volume it reports in tray carton equivalents.
VerityRank Score
Based on market presence, financial scale, operational capacity, and brand strength.
Quick Facts
Headquarters
T&G Global Hub, Building 1, Level 1, Central Park, 660 Great South Road, Ellerslie, Auckland, New Zealand (postal address PO Box 56, Shortland Street, Auckland 1140). The Mt Wellington address used in the research document is T&G Fresh's Auckland market trading hall at 113A Carbine Road, not the group head office.
Founded
The business began as Turners and Growers more than 125 years ago, in T&G's own standard wording, which is consistent with about 1897 to 1900; no exact founding year is verifiable, because the company does not state a year and none is published here.
Employees
1,780, on the basis stated in T&G's NZX announcements of 26 March 2026 and 1 September 2026. The company's consumer website About page says 2,000+ team members, which is inconsistent with that regulatory disclosure; the lower, regulator-facing figure is used here.
Revenue
NZ$1.6 billion for FY2025, the year ended 31 December 2025, up 14% from NZ$1.4 billion. Operating profit NZ$46.9 million against NZ$12.7 million in the prior year, an increase of 269%; profit before tax NZ$21.9 million against a prior-year loss of NZ$6.8 million; net profit after tax NZ$16.0 million against a prior-year loss of NZ$9.9 million. T&G discloses only to the nearest NZ$0.1 billion. The NZ$1,144.6 million shown in the interim report is a restated continuing-operations figure excluding T&G Fresh, not the group total, and the two must not be mixed.
Factories
Named verified sites are the Whakatu packhouse at 2 Anderson Road, Whakatu, Hastings, in Hawke's Bay, and the Nelson site at 484 Nayland Road, Stoke, both identified by T&G as locations for capital expenditure on premium apple capacity; T&G does not publish a total facility count. Domestic market trading halls operate in Auckland at 113A Carbine Road, Mt Wellington, and in New Plymouth, Wellington, Christchurch, Nelson, Hamilton, Tauranga, Hastings and Palmerston North. Overseas offices are in Los Angeles and Wenatchee, Washington, trading as ENZAFRUIT Products Inc., in Lima as ENZAFRUIT Peru S.A.C. and in Santiago as T&G Chile SpA, with further offices covering North Asia, the United Kingdom and Europe, and Southeast Asia. The Australian blueberry farms retained after the T&G Fresh disposal sit within VentureFruit.
Listing
Listed on the New Zealand Exchange, NZX: TGG, first listed on 29 September 2004. BayWa Global Produce GmbH, a subsidiary of Germany's BayWa AG, holds about 74% and Joy Wing Mau Group (Hong Kong) about 20%; BayWa announced in July 2025 that it intended to sell its stake and the process was unresolved as of October 2026.
Categories
Data Sources & Methodology
This corporate profile is compiled from publicly available sources including company annual reports, SEC/regulatory filings, official press releases, and verified third-party industry databases. Financial figures reflect the most recent fiscal year disclosures and are cross-validated across multiple independent references.
VerityRank Score is calculated using a proprietary multi-dimensional model evaluating market presence, financial strength, operational scale, innovation capacity, and brand influence. Individual dimension scores are normalized against industry peers and updated quarterly.
Disclaimer: This profile is for informational purposes only. VerityRank makes no warranties regarding completeness or timeliness. This content does not constitute investment advice or endorsement.
Key references: Official Website , NZX Announcement 478975 · FY2025 Result Release · 2025 Annual Report · Head Office Contact · T&G Global News · Official Site