Geyser Limited Partnership entered into an agreement to acquire ArborGen's ANZ Businesses from ArborGen Holdings Limited (NZSE:ARB) for NZD 22.2 million on November 1, 2021. Geyser, a consortium of New Zealand investors predominantly comprising charitable trusts and private families, with the consortium led by Hugh Fletcher The total consideration is on a debt free and cash free basis and with a locked box mechanism applying from October 1, 2021. The transaction is conditional on at least 75% of ArborGen ANZ's permanent employees accepting Geyser's offer of employment and and ArborGen New Zealand Unlimited effecting the transfer of its 2.34% shareholding in Radiata Pine Breeding Company Limited to Geyser.

Completion of the transaction is scheduled for November 30, 2021. Proceeds from the sale will be used to invest in and expand ArborGen's high-growth US and South American businesses, explore investment in new growth opportunities in in vitro and carbon-related segments and repay debt. Grant Samuel Group Limited acted as fairness opinion provider to ArborGen.