Fruit and vegetable grower, Costa Group (ASX:CGC)
has inked conditional agreements to buy both the farming operations of KW Orchards citrus farm, as well as the EJT citrus packing facility.
Both assets are located in the Sunraysia region of New South Wales.
Following the purchase, the company will own circa 1,100 hectares in the Sunraysia region - 700 hectares of citrus, 250 hectares of table grapes and 130 hectares of wine grapes.
The deals will be funded from existing debt facilities.
Completion is expected in late March 2021.
Shares in Costa Group (ASX:CGC)
are trading 1.5 per cent lower at $4.53.