Wolseley exits Freshmax to Maui Capital
Wolseley Private Equity has fully exited Australian fruit and vegetables supplier Freshmax through a secondary sale to Maui Capital, an Auckland-based private equity firm. The deal closed before the end of 2011, giving Wolseley enough time to return money to investors in its first fund - which closed at $107 million in 2005 - by the end of December.
Wolseley purchased Freshmax in 2006 and the company now claims it is the largest independent fresh produce business to be fully integrated across Australia and New Zealand. Annual revenue has grown to...
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