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Super growers take on Woolies, Coles with private equity cash

Super growers take on Woolies, Coles with private equity cash

Twelve big super growers, some backed by foreign capital, account for half of the $9.1 billion in fruit and vegetables sold each year.

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A dozen super growers, some backed by foreign private equity, supply half of Australia’s fresh fruit and vegetables, providing a counter to the power of supermarkets and challenging assumptions about struggling farmers in a $9 billion market.

Large produce providers that have been bought out by overseas private capital players say scale helps to absorb rising input costs and being well capitalised means they can invest in innovative technology. Bigger is better, and Australia is mirroring a global trend.

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Simon Evans
Simon EvansSenior reporterSimon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
Carrie LaFrenz
Carrie LaFrenzSenior reporterCarrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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Original URL: https://www.afr.com/companies/agriculture/super-growers-take-on-woolies-coles-with-private-equity-cash-20240417-p5fkh6