Queensland-based fresh fruit companies Simpson Farms and OneHarvest are in the final stages of buying plantations in northern Australia that belonged to failed management investment scheme Timbercorp, reports The Australian Financial Review.
The two firms will buy a combined total of just over 2,500ha of freehold land, with some 1,100ha of mango and avocado plantations, from Timbercorp's receivers JP Downey and KordaMentha for over A$25m, the report said.
The plantations are located in Queensland and the Northern Territory, according to the publication.
