- 11 Jul, 2017
Jeremy Rockliff, Minister for Primary Industries and Water
I would like to congratulate Tim Reid on his announced retirement and sale of his company, Reid Fruits.
Tim is a true legend of Tasmania's fruit industry, building Reid Fruits into a Tasmanian success story and an iconic local business.
Established by James Reid in 1856, the business became one of the biggest producers and packers of apples in Australia. In 2000, the company began producing cherries and has once again become a renowned producer and exporter to more than 20 countries around the world.
Tim Reid continued to develop the business into one of Australia’s premiere growers and exporters and in 2013 was recognised as Australia’s Farmer of the Year.
No doubt the decision to sell the business would have been a very difficult one for the Reid family, however, the fact that there is such interest in the business already shows that there is strong confidence in the Tasmanian primary industries sector and more broadly, growing confidence in Tasmania’s role as a producer of premium, fresh produce.
While the Reid family will be responsible for deciding who will buy their business, it should be noted that if they buyer is from overseas and the price is above $15 million it will need to be approved by the Foreign Investment Review Board.