Thomson Geer assists macadamia nut company Health and Plant Protein Group on sale of US subsidiaries

Thomson Geer has advised ASX-listed macadamia nut grower and processor Health and Plant Protein (HPP) Group on the sale of its US subsidiaries for US$23 million.The company is selling its subsidiaries to MNP Holdings, a US company with investments in the macadamia nut industry in Hawaii.Through its Royal Hawaiian Orchards and MacFarms brands, HPP is the largest vertically integrated orchard to retail macadamia nut processor and marketer in the US.The sale was the outcome of a strategic review of HPP’s US assets and a sale process under which HPP held discussions with interested parties in relation to the future ownership of the Kapua Macadamia Orchard and macadamia nut business.On completion, the sale will deliver the macadamia nut business to an experienced market player who will work to ensure the long-term viability of brands committed to Hawaii origin macadamia nuts.The Thomson Geer team is led by Partner Eugene Fung who said: “The sale of the macadamia nut business is part of a transformational restructuring period for HPP which included the 2020 divestment of its iconic Ginger business including its ginger-related brands and The Ginger Factory tourist attraction on Queensland’s Sunshine Coast.” Thomson Geer also advised on the 2020 transaction.Eugene is assisted by Associate Thomas Gardner. The deal is due to complete in March, subject to shareholder approval.