The fisheries company expects to come in ahead of $26m full year profit guidance despite disruption at Sealord.
Wellington-based Rangatira Investments is back in the black posting a net profit after tax of $9.9m up from a loss of $1.3m last year.
Hawke’s Bay winery Sacred Hill has been placed on the market by its receivers.
Katherine Turner is to leave the seafood company in September after three years in the role.
Me Today announces opening of a $3.75m offer to retail investors as part of its plan to raise up to $15.75m to part-fun its $36m purchase of King Honey.
South Island Office invests $30m in its first food acquisition and says there are more deals in the pipeline.
Food giant Goodman Fielder has introduced a new sustainability strategy that will see it use 100% recyclable packaging by 2025 and halve its food waste by 2030.
Around 4,000 Fonterra co-operative members have so far attended a consultation meeting or joined a webinar about the proposed changes to the group’s capital structure, according to an update from the co-op’s council.
New Zealand King Salmon has updated the market with what it describes as “problematic” trading in the first half of the year and issues plaguing some of its salmon stock. MORE »
Me Today’s proposed $15.75m capital raise which will part fund its $36m purchase of King Honey from Sky co-founder Terry Jarvis has won support from wholesale investors.
Master franchiser and food distributor Cooks Global Foods was pushed further into the red in the year to 31 March posting a net loss of $2.8m – up from $0.2m last year – as Covid took its toll on international operations.
Healthcare company Me Today has expanded its existing lifestyle, health and wellness businesses with the $36m purchase of manuka honey producer King Honey from Sky TV co-founder Terry Jarvis.
Christchurch biotechnology company PharmaZen, which trades as Waitaki Biosciences, has made two appointments to its board.
The kiwifruit giant said it delivered record per tray returns across all categories in the 2020/2021 season.
Blis delivers earnings of $1m – at the lower end of its guidance – in its annual results.
Fonterra will contribute $12bn to the New Zealand economy in the next season, says the co-op’s chief executive, Miles Hurrell.
JLG has raised more than $4m in a rights offer launched to part-fund its $17m acquisition of supplement provider About Health.
The dairy company now forecasts a full year loss of between $20m – $30m in 2021.
Eight senior staffers have accessed Comvita’s new share purchase and loan scheme which has seen the company grant loans totalling $2.28m .
Meal kit company posts 24% revenue rise and assures investors it is positioned to deliver on IPO expectations.
The Swedish oat milk company has become the latest plant-based IPO sensation in the US.
Seafood company reports 15% drop in net profit at the half year as it continues to battle with Covid-19 disruption to freight and foodservice.
All eyes will be on the meal kit company to see if it meets its forecasts after a disappointing debut on stock exchanges on both sides of the Tasman.
The company which owns well-known wine business Villa Maria has been placed into receivership.
Manawatu/Rangitikei-based food company Speirs Group has replaced $2.5m of redeemable preference shares set to mature in September with $2.2m of fresh RPS, with a 2025 end date.
CFO’s departure follows that of chief executive Leon Clement and director of operations Mark Toomey.
The CEO says global investor KKR will accelerate the premium pet food firm’s international expansion.
New Zealand seafood company Sanford has appointed Mark Cairns as its newest board member.
The former darling of the NZX was forced to slash its revenue forecasts and write down the value of its assets.
Listed Australian supermarket chain Woolworths has set a date to complete the spin-off of Endeavour Group, its drinks and hospitality business – a move first mooted back in July 2019.
Seeka has been officially welcomed to Ōpōtiki to celebrate its purchase of Ōpōtiki Packing and Cool Storage.
The deal catapults Australian biscuit giant Arnott’s into NZ’s premium cracker category.
Preferred option for capital structure review would dismantle or cap fund that gives outside investors access to co-op.
Fonterra yesterday went into a trading halt ahead of an announcement about its capital structure, expected this morning.
The offer is priced at a 27.1% discount.
A certificate of amalgamation is imminent, formalising the kiwifruit specialists’ deal.
Open ocean farm first could be followed by other developments off the South Island’s east coast.
The Hawke’s Bay cider company has partnered with the airline to become the exclusive cider on all flights.
The Japanese drinks giant says it’s impressed by the coffee maker’s premium brand and the two firms are “a great fit”.
Tony Falkenstein’s Just Life Group says it completed its purchase of About Health on Friday.
Agribusiness Scales Corporation has declared a fully imputed final cash dividend of 9.5c a share for the 2020 financial year.
OIO approves T&G Global purchase of an 11-hectare Hawke’s Bay site to grow more Envy apples.
Synlait Milk has reset its 2018 inaugural emissions reduction targets.
Relative newcomers rub shoulder with FMCG stalwarts in the inaugural rankings.
The beer producer sets itself new sustainability targets as it builds on its ambition to halve its emissions by 2030.
New approach in Australia means ramping up online sales and securing a new distributor.
Just Life Group is investing $17m to buy NZ supplement provider About Health.
Christchurch biotechnology company PharmaZen has suffered a difficult first quarter dogged by delays to its $8m capital investment programme and resultant capacity constraints. In its annual report the company, which MORE »
Zespri resumed trading on the USX at 9am Friday 23 April. The company halted the trading of its shares on Wednesday 7 April to allow the finalisation of its 2021 MORE »
The phenomenal rise of the Swedish oatmilk juggernaut is detailed ahead of a potential $10bn listing on the NYSE.
Nestle has pledged that its popular chocolate brand, KitKat, will become carbon neutral by 2025.
The co-op says the preliminary result compared to last year’s range of $300m-$305m.
The group says the vintage would deliver “excellent quality wines” for its brands.
Grower support and banking thresholds are the only hurdles remaining.
A year on from taking the helm of Frucor Suntory, chief executive Darren Fullerton talks about the greatest opportunity for the FMCG giant, long-term planning and building resilience.
A poor harvest is set to put a dent in Marlborough Wine Estates’ performance this year.
Seeka is a step closer to buying kiwifruit rival Ōpōtiki Packing and Coolstorage.
It will be the firm’s first publicly available results since its listing.
Manuka honey company Comvita has revised its earnings forecast up on the back of strong growth in China and the US.
The dairy companies saw share prices slip following news that Synlait’s boss is leaving.
Seeka’s proposed $60m purchase of rival kiwifruit company Opotiki Packing and Cool Storage would create New Zealand’s largest kiwifruit grower with annual revenue of £300m – but it is far from a done deal.
The tie-up is a shot in the arm for PURE NZ Ice Cream after its foodservice and tourism channels were hit by Covid.
From spring water chiefs to supermarket dynasties – the annual rankings are a smorgasboard of F&B billionaires.
Zespri has been placed in a trading halt on the USX to allow the finalisation of the 2021 Gold3 and Zespri Red tender process.
Annual profit rises to $5.2m, but Covid delays push out development of a new Rolleston factory.
Fonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.
Omega fish oils refiner SeaDragon has issued Pescado Holdings limited with 20 million shares for $4m of loan notes from the shareholder.
Spiers Group says it received an unexpected cash dividend of $229,127 from its investment in Equipment Leasing and Finance Holdings Limited.
The meat company saw net profit dip to $65m, skirting any deep impact from the pandemic.
The salmon farmer posts a seven month net loss of $7m, as it changes its reporting date.
The food giant plans to relocate its Wiri confectionery manufacturing to Australia.
Significant Covid-19 induced uncertainty and volatility will continue, says the milk powder producer.
Terra Vitae Vineyards is reassuring shareholders not to worry about speculation Villa Maria Estate Limited may be bought.
The Bay of Plenty-based company is looking to expand its footprint in the kiwifruit sector.
Reducing waste, carbon emissions, water usage, sugar and non-recyclable packaging form the backbone of Frucor Suntory’s ten-year sustainability plans.
An aggressive growth strategy underpins the kombucha maker’s forecast 325% jump in annual revenue.
The agribusiness confirms it is in the running to buy Villa Maria in what would be its first foray into wine.
Zespri is progressing its plan to move against the unlawful growing of kiwifruit in China as illegal plantings increase.
Mark Toomey has resigned from the specialist diary company after just over a year in the role.
Huge losses are forecast for the New Zealand apple and pear industry, according to New Zealand Apples and Pears Inc.
Lower prices and higher costs will hurt performance, says the seafood company.
The co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.
The co-op’s shareholders have indicated support for an overhaul of the dairy giant’s structure.
Moa’s former hospitality division is adding three Auckland restaurants to its stable.
But the company says it is “delighted” to raise $1.34m, despite a deeply discounted SPP.
Hawke’s Bay apple producer Rockit Global completes a capital raise bringing in new investor Ngâi Tahu Holdings.
My Food Bag’s debut on the NZX Main Board last week was weaker than hoped, falling to as low as $1.69.
Trinity Hill has new ownership after being purchased outright by four local investors.
The company suffered a 35% drop in interim profit in what it described as a “challenging” first half year.
The Te Puke-based produce handler more than doubled its annual profit in FY20.
The honey company took “radical” steps to recover from a $13m interim loss.
A “challenging and disruptive year” pushed revenue and profit down.
Seeka has announced a 12 cent dividend, payable on 30 March 2021.
Fonterra has lifted the bottom end of its 2021 forecast earnings guidance and narrowed the range to 25-35 cents per share, from 20-35 cents per share.
Strong global sales growth saw the winemaker’s interim profit leap 31% in a record-breaking run to the end of 2020.
Increased airfreight costs, discounting and lockdowns all ate into the salmon farmer’s profit.
US billionaire Bill Foley’s Kiwi company suffers sales falls in its largest overseas markets.
The wine company says it is looking to raise the new funding to progress growth opportunities in NZ.
The company is on track to dual list on 5 March with a post-IPO market cap of $449m.
NZ King Salmon, Delegat Group, and Comvita are this week reporting their six month interim financial results.
The company is jettisoning its eponymous brewing business to focus on its hospitality division under the new name Savor.
Comvita has goal to grow its digital sales to 50% of the total group by 2025.
The announcement follows Richard Wyeth’s departure in October.
It comes after the wine firm had its first-ever profitable year as an NZX listed company.
A2 Milk Company has stopped the trading of its shares on the NZX and ASX while it revises its earnings guidance. The dual-listed firm said this morning that the halt MORE »
The seafood firm is on a mission to rebuild profitability.
The Te Puke-based company said the dividend would be paid on 27 January 2021 to all holders of ordinary shares.
A US-based family buys into the fish oil company in an off-market deal.
The investor wants to bolster the cookie maker through acquisitions in what it calls a “fragmented industry”.
The kiwifruit exporter gets the go-ahead for a sale and leaseback deal, unlocking more profit for the year.
Diversified agribusiness group will pay 9.5c interim dividend and affirms previous guidance.
Strong demand for NZ dairy has seen the co-op lift its milk price forecast and report Q1 earnings of $250m.
Queenstown-based Wayfare is selling its brewing interests to local restauranteurs.
Moa Group Limited has reported an after tax loss of $415,000 for the six months to 30 September 2020.
The dairy company successfully raised the money after closing an oversubscribed $20m share purchase plan.
A date has been set by the group, in an NZX announcement made on Thursday.
Online growth and investment in technology and sales teams also helped the winemaker to a record year.
Diversifying its product ranges, customers and target markets has created a more sustainable business, says Synlait chief executive Leon Clement.
Mānuka honey company Comvita says it reported strong sales in the online shopping event.
The dairy company says it expects an uptick in activity in the second half of FY21 despite continuing uncertainty.
Synlait Milk has added $180m to its coffers after successfully completing a discounted share placing.
The company will use the money to complete its investment strategy, pay down debt, and strengthen its balance sheet.
Synlait Milk has stopped the trading of its shares in both New Zealand and Australia ahead of an announcement of a significant capital raise.
Fonterra is on the “home straight” of its turnaround and well-positioned to face continued Covid-19 induced global uncertainty, according to chief executive Miles Hurrell
Villa Maria Estate is selling off 31 hectares of land in Māngere to raise funds for global expansion.
The fishing company says it has suffered falling prices, slow sales and poor catches.
Synlait Milk says it has signed a new manufacturing supply deal with “an established, global category leader” but it has not named its new customer.
It comes as demand for the variety across the globe remains strong.
The dairy co-op returns to sustainable earnings as it continues to tackle environmental challenges.
During the pandemic the company saw a “rapid decline” in sales.
Zespri and Synlait have been named as finalists in the Deloitte Top 200 Awards for 2020. The kiwifruit co-op has been nominated for two awards, Company of the Year and MORE »
Last year its vineyards produced 17% below the winemaker’s budgeted target.
Synlait Milk has set the course for a year of consolidation following a period of substantial investment.
Comvita has reported “strong” results in its first quarter, posting double-digit revenue growth.
Marlborough Wine Estates has posted its first-ever profitable year as an NZX listed company.
Dairyworks has sold its Deep South ice cream brand to seafood giant Talley’s for an undisclosed sum.
Over 83 million shares were distributed at $0.03c per share, according to an announcement from the Omega fish oil producer.
Happy Valley Nutrition has secured Overseas Investment Office approval to develop a dairy factory in the Waikato.
Palliser Estate Wines says its FY20 results were better than expected, despite numerous Covid-19 impacts.
Fonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.
Fonterra has posted an after tax profit of $659m for the year to July 2020, a $1.3bn turnaround from the $605m loss it made the previous year.
California-based Gallo Winery has bought New Zealand wine brand Nobilo for $202m from US owner Constellation Brands. Gallo Winery is one of the largest family-owned wineries in the world with MORE »
Wine maker Delegat Group has lifted its expectations of the size of its grape harvest and increased revenue. The good news has boosted the share price to a high of MORE »