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Tasmanian family-owned cherry dynasty for sale

Australia's biggest cherry exporter, Reid Fruits, is up for sale

The Tasmanian company makes up about 10 per cent of Australia's cherry industry and is the country's leading exporter into Japan, Korea, Thailand and India. Last year marked the company's 160th anniversary in Tasmania.

Mr Reid, the company's managing director, says "My wife and I have reached the stage of life where we think there are other things we'd like to pursue, a bit of time to ourselves. We've worked very hard for a long time. I started stacking apples off the packing line in the apple shed down at Geeveston when I was still at school, at 15 years of age... I've been full time for 48 years."

"There comes a time to step off the treadmill, and I think for Deborah and I it's really good timing now."

The Reids have four daughters, but "the girls have all pursued their own careers and they're happy with their own lot in life," Mr Reid said.

The company has 136 hectares of cherries under cultivation in the state.  Mr Reid said continued growth in the cherry industry in Tasmania was immense.

"I think in our own case we could double or treble the size of our orchards right now and easily sell the cherries into the markets that we've developed," he said. "We just cannot supply everybody who's enquiring for fruit."

Mr Reid said the family will only sell if they get a suitable offer. "If we don't get a reasonable offer for the business, we'll look at restructuring the management level, my level, looking at a new CEO and we'll continue the business on for God knows how long." 

(From ABC News - 11 July 2017)