T and G Welcome Takeover Confirmation

7 March 2012

News Release

Turners & Growers Chairman, Rob Campbell today welcomed the announcement from BayWa Aktiengesellschaft (BayWa) that its takeover offer is now unconditional.

"The announcement resolves a period of uncertainty for shareholders, staff and suppliers.

The board and management are looking forward to completion of the acquisition and working with the new controlling shareholder.

We all see a growing and strong future for the business working with BayWa globally to grow the presence of New Zealand products around the world and an efficient fruit and produce market in New Zealand."

ENDS.

About Turners & Growers:
Sells approximately of $1 billion of fresh produce globally each year.
45 companies worldwide in the Turners & Growers Group including ENZA.
New Zealand’s leading distributor, marketer and exporter of premium fresh produce
The largest corporate horticulture investor in New Zealand.
The largest grower of new apple varieties, hothouse tomatoes and citrus.
Own the largest network of fresh produce markets in New Zealand facilitating more than 200 million kilograms of fresh fruit and vegetables every day.
One of the largest operators of fruit cool stores and pack houses throughout New Zealand.
Operates a specialized fresh produce transport fleet in New Zealand that travels more than 4 million kilometers every year.

About ENZA:
New Zealand’s largest apple exporter.
Sells fruit in more than 60 countries.
Grows apples in 12 countries.
One of the world’s best known produce brands.
Key supplier of fresh produce to 22 of the world’s top 25 retailers.
Owns the rights to new global varieties including JAZZ™and ENVY™ apples and ENZARed™, ENZAGold™ and Summerkiwi Kiwifruit™.
Merged with Turners & Growers in 2003 to create global growing and distribution network.

In 2007, Turners & Growers and Delica Group formed specialist produce exporting company, Delica Limited. The company is the largest diversified produce exporter in Australasia offering international customers a complete range of high quality fresh produce.

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