Paine & Partners, a global private equity investment firm, will make a strategic investment in Costa Group, the Australian producer, marketer and exporter of fresh fruit and vegetables. The transaction is expected to close later this year.
The financial details of the deal have not been revealed as yet. Paine & Partners and Costa will set up a newly structured private company on a 50/50 ownership basis. Frank Costa will continue to be the Costa’s chairman and Harry Debney will continue to be the chief executive.