The Marygold Companies, Inc. (NYSE American: MGLD) announced that its wholly owned subsidiary, Gourmet Foods Limited, has signed a definitive agreement to sell its Printstock Products Limited business unit to TAG Investments Limited, a New Zealand-based private investment firm. The cash transaction is valued at a minimum of NZ$2,450,000, with final proceeds to be determined at closing. Structured as an asset sale, the deal is expected to close on or about November 20, 2026, subject to customary conditions including due diligence, lease assignment, and inventory valuations. The sale marks a significant step in Marygold’s corporate transformation toward a financial services-centric business model.
Printstock, based in Napier, New Zealand, is a digital printer of custom food packaging for brands predominantly distributed in New Zealand. It was acquired by Gourmet Foods in 2020 at the onset of the COVID-19 pandemic to individually wrap products in compliance with health regulations. Nicholas Gerber, Chief Executive Officer of The Marygold Companies, stated, “The transaction is in keeping with our corporate transformation and initiative to focus on our financial services sector, which today represents more than half of the Company’s consolidated revenues.” He added that the company expects to record a gain on the sale, reflecting the success of its original investment. Printstock’s management and staff are expected to continue with the new owner.
The divestiture is part of Marygold’s broader strategy to concentrate on financial services, which now accounts for over half of its consolidated revenues. The company operates subsidiaries in financial services, food manufacturing, printing, and beauty products, with offices in the U.S., New Zealand, and the U.K. Gourmet Foods, acquired in 2015, is a commercial bakery producing meat pies and pastries under brands Pat’s Pantry and Ponsonby Pies. It is currently listed as Discontinued Operations on Marygold’s financial statements due to its held-for-sale status. During the ownership transition, Gourmet Foods will continue normal operations with full support from Marygold.
The sale’s implications are twofold: it allows Marygold to sharpen its focus on financial services and realize a gain from its 2020 investment in Printstock. The transaction also ensures continuity for Printstock’s staff under TAG Investments. For more information about The Marygold Companies, visit www.themarygoldcompanies.com. The original release can be viewed on www.newmediawire.com.
