Duxton Farms has agreed to sell its South Australian apples business to New Zealand-based DAA Holdco for about A$9.2 million. The deal comes less than nine months after Duxton Farms acquired Duxton Apples and marks a quick exit from the segment as the company shifts its attention back to core development priorities.
Duxton Farms to Sell South Australian Apples Business for A$9.2 Million
The sale contract has been executed with DAA Holdco, with the transaction valued at approximately A$9.2 million. According to the source content, the agreed value represents an uplift on the original purchase price.
While Duxton Farms said the apples business had been operating profitably, the board decided to divest the asset after careful consideration. The company said it intends to refocus on core development projects that it expects will create greater long-term shareholder value.
What Is Included in the Sale
The transaction covers a package of orchard-related assets in South Australia, including:
- Duxton’s freehold property in Loxton
- Leasehold properties in Monarto and Nangwarry
- Associated plant and equipment
This means the sale is not limited to fruit production operations alone, but also includes the key property and equipment tied to the apples business.
Why Duxton Farms Is Divesting the Apples Business
Duxton Farms said the business had been operating profitably, but the board ultimately chose to exit the position. The stated reason was to concentrate resources on the company’s core development projects rather than continue holding the apples operation.
From a business perspective, the move suggests a capital reallocation decision rather than a forced exit, with management prioritising areas it believes can deliver stronger long-term value.
Settlement Timeline and Conditions
Settlement is expected at the end of July, subject to conditions. These include lessor consent for the transfer of the property leases tied to the Monarto and Nangwarry sites.
Until those conditions are met, the transaction remains pending completion despite the contract having already been signed.
Quick Exit as Duxton Refocuses
The sale of the South Australian apples business to DAA Holdco marks a relatively fast turnaround for Duxton Farms, coming less than nine months after its acquisition of Duxton Apples. With the deal set at around A$9.2 million and covering the Loxton freehold, the Monarto and Nangwarry leaseholds, and related plant and equipment, Duxton Farms is now redirecting its focus toward its main development projects.
