Avo buy helps Costa growth

Townsville Bulletin - - NEWS -

VEG­ETABLE and fruit grower Costa Group has set its sights on be­com­ing Aus­tralia’s big­gest sup­plier of av­o­ca­dos after buy­ing a sig­nif­i­cant Queens­land grower.

Costa and Mac­quarie Agri­cul­tural Funds Man­age­ment ( MAFM) has agreed to ac­quire the Lankester Av­o­cado or­chards and pack­ing op­er­a­tion for an undis­closed price.

Costa chief ex­ec­u­tive Harry Deb­ney said the pur­chase was part of Costa’s strat­egy to make av­o­ca­dos its fifth core prod­uct, along­side berries, mush­rooms, cit­rus and glasshouse toma­toes.

Lankester Av­o­cado has three farms in the Ather­ton re­gion, with 130ha planted and an­other 60ha planted over the next 12 months. MAFM will buy the farms and Costa will op­er­ate them un­der a 20- year lease.

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