Organics company CER Group is no longer going to sell its New Zealand Nature Company business to interests associated with former managing director David Warrick.

The conditions in a heads of agreement were not satisfied and the agreement was terminated, the company said.

CER Group earlier twice extended the finance condition in the agreement.

The sale price was $3 million, with an initial payment of $2 million in cash and a deferred payment of $1 million within two years.