Fruit marketer Turners & Growers will buy two tomato growing businesses for $25.8 million.
It will pay $17.3 million for the Great Lake Tomatoes business in Bay of Plenty.
The produce company will also pay $8.5 million for Rianto, a Waikato-based grower, which produces 1,600 tonnes of tomatoes a year.
Turners & Growers covered crops manager Anthony Stone said the buy-up bolsters its supply chain.
"One of the challenges we have is meeting our ever-changing customer needs and requirements. With extra production, extra glass-housing will enable to be more efficient with our crop planning, which will enable us to better meet the needs of customers from a supply-surety perspective," he said.
Both acquisitions will be subject to consent obtained under the Overseas Investments Act.
The German company BayWa AG is a major shareholder in Turner & Growers.
If cleared, it is expected the purchases will be complete by next July.
