The Marygold Companies, Inc. (NYSE American: MGLD) announced that its wholly owned subsidiary, Gourmet Foods Limited, has signed a definitive agreement to sell Printstock Products Limited 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 is a deliberate step in The Marygold Companies' corporate transformation. According to CEO Nicholas Gerber, the transaction aligns with the company's initiative to focus on its financial services sector, which today represents more than half of consolidated revenues. "We expect to record a gain on the sale as the transaction reflects the success of our original investment in 2020," Gerber said. This gain would bolster the company's financial position and provide capital for further expansion in financial services, where it operates through subsidiaries such as USCF Investments and Marygold & Co.
Printstock, based in Napier, New Zealand, is a digital printer of custom food packaging for brands predominantly distributed in New Zealand. Gourmet Foods acquired the business in 2020 at the onset of the COVID-19 pandemic to individually wrap its products in compliance with health regulations. Under Marygold's ownership, Printstock has been finely run and brought value to shareholders. The experienced management team and staff are expected to continue with the new owner, ensuring continuity for customers and employees.
Gourmet Foods itself, acquired by Marygold in 2015, is a commercial-scale bakery producing iconic meat pies and pastries under the Pat's Pantry and Ponsonby Pies brands. It is currently listed as Discontinued Operations on the company's consolidated financial statements due to its status as held for sale. During the search for new ownership, Gourmet Foods will continue to operate normally with full support from The Marygold Companies.
This divestiture is significant because it sharpens Marygold's strategic focus on financial services, a sector with higher growth potential and recurring revenue streams. By exiting the printing business, the company can allocate resources to its core financial offerings, which include investment management and advisory services. The expected gain on sale also demonstrates the success of Marygold's investment strategy, having acquired Printstock in 2020 and now selling it at a profit. The transaction underscores the company's ability to create shareholder value through active portfolio management.
Investors and stakeholders can find more details about The Marygold Companies on its website at www.themarygoldcompanies.com. The original press release is available on www.newmediawire.com. As with any forward-looking statement, completion of the sale is subject to risks and uncertainties that could cause actual results to differ materially.
