VTH – Vitalharvest Freehold Trust

and yet, Macquarie sees potential. Bid at $1.00

Vitalharvest owns one of the country’s biggest portfolios of berries and citrus farms, with land in NSW, South Australia and Tasmania, which is mostly leased to ASX-listed Costa Group.

The group listed in 2018 at $1 a unit and has performed dismally for investors. The stock fell below $1 on listing and has closed at or above that mark only a handful of times in the two years since.

Vitalharvest is managed by private estate funds management group Primewest. According to Vitalharvest’s annual report, its biggest shareholders at August 31 were Primewest (13.92 per cent), Australian Ethical (8.11 per cent), Salt Funds Management (8.07 per cent) and Costa Asset Management (6.24 per cent).

Macquarie Infrastructure and Real Assets (MIRA)’s two-pronged offer for Vitalharvest, via a scheme of arrangement, or if that fails then it proposes to pay $300 million for all of the trust units, was designed to get past a potential no vote from Primewest.


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