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Friday 20 May 2022

Corporate & Results

My Food Bag product range pumps value
20 May 2022  

My Food Bag product range pumps value

The company’s Kitchen product add-ons help boost average order value as customer numbers are buffeted by Covid during FY22.


“You’re going to see a more focused business” Lion NZ’s Craig Baldie
18 May 2022  

“You’re going to see a more focused business” Lion NZ’s Craig Baldie

Lion is close to completing a reshaping of its NZ operations, allowing it to emerge from Covid concentrated on core.


NZCS lines up takeover target after upbeat Q1
18 May 2022   /

NZCS lines up takeover target after upbeat Q1

The seafood supplement specialist has booked a strong start to the year with revenue jumping 242% from the same quarter in 2021.


Ampol now top trans-Tasman fuel, convenience player
18 May 2022   /

Ampol now top trans-Tasman fuel, convenience player

Australian fuel retailer Ampol’s circa $2bn acquisition of Z Energy last week created the number one trans-Tasman fuel and convenience player, according to the company.


A2 Milk CFO quits, replacement announced
17 May 2022   /

A2 Milk CFO quits, replacement announced

The dairy company taps a former colleague of boss David Bortolussi to become its new finance lead.


The Warehouse watching govt grocery response “with interest”
13 May 2022  

The Warehouse watching govt grocery response “with interest”

The value retailer says it is “seriously considering” making more grocery options available.


Comvita holds FY earnings guidance at $27m-$30m
12 May 2022   /

Comvita holds FY earnings guidance at $27m-$30m

Comvita has reported an unaudited EBITDA of $23.9m – around 93% of FY21 full year actuals – in a market update on its performance for the 10 months to the end of April.


Arnott’s NZ on track for souped up 2022 sales
11 May 2022   /

Arnott’s NZ on track for souped up 2022 sales

A “phenomenal” Q3 performance from its Campbell’s soup brand and the acquisition of 180 Degrees is boosting the company’s FY22 numbers.


Another loan for SeaDragon from Pescado
11 May 2022  

Another loan for SeaDragon from Pescado

SeaDragon has signed a new secured loan agreement of $500,000 with its majority shareholder, Pescado Holdings.


NZ King Salmon raises $50m, allocates shortfall
10 May 2022   /

NZ King Salmon raises $50m, allocates shortfall

New Zealand King Salmon has closed its $60.1m underwritten 2.85 for 1 pro rata rights offer.


East Imperial grows revenue but loss widens
9 May 2022   /

East Imperial grows revenue but loss widens

As logistics challenges continue and the US market grows in importance, the NZ-founded beverage maker says it plans to start bottling in that strategic market.


Fonterra revises down forecast milk price
9 May 2022  

Fonterra revises down forecast milk price

Fonterra has dropped its forecast milk price range for the season from $9.30 – $9.90 per kgMS to $9.10 – $9.50 per kgMS.


Tofu Takeover: ComCom’s concerns with Chalmers deal
5 May 2022   /

Tofu Takeover: ComCom’s concerns with Chalmers deal

The watchdog fears Life Health Foods’ proposed takeover of plant-based rival Chalmers Organics will substantially lessen competition.


Lim “disappointed for others” at misogynistic My Food Bag bagging
5 May 2022   /

Lim “disappointed for others” at misogynistic My Food Bag bagging

Lim says she is “disappointed” by sexist and racist remarks made by DGL chief executive Simon Henry in respect of My Food Bag’s IPO prospectus.


Ebos positive on pet food prospects
5 May 2022   /

Ebos positive on pet food prospects

Healthcare and pet food company Ebos Group says a growing pet population and the premiumisation of products will help support its pet food business.


Woolworths warns Omicron costs will dent NZ profit
4 May 2022   /

Woolworths warns Omicron costs will dent NZ profit

Its New Zealand business could see H2 earnings drop almost 30% due to escalating costs, even as grocery prices rise.


PharmaZen takes Covid hit
2 May 2022  

PharmaZen takes Covid hit

Covid took its toll on operations at Christchurch biotechnology company PharmaZen, which trades as Waitaki Biosciences, recording a net loss before tax of $609,000 for the year to December 2021.


Sanford hooks nearly $50m from cray quota sale
29 Apr 2022  

Sanford hooks nearly $50m from cray quota sale

Seafood company Sanford is exiting two crayfish quotas, and considering the sale of a third to reinvest the cash into growing its salmon and mussel business, as well as its wildcatch division.


Restaurant Brands Q1 sales squeak up
29 Apr 2022   /

Restaurant Brands Q1 sales squeak up

NZ sales were flat as Omicron disrupted store opening hours and the sales mix, particularly in Auckland.


Scales declares 9.5c final dividend
29 Apr 2022  

Scales declares 9.5c final dividend

Scales Corporation has declared a fully imputed final cash dividend for the 2021 financial year of 9.5 cents a share.


Good Spirits abandons $27m Nourish Group buy
28 Apr 2022   /

Good Spirits abandons $27m Nourish Group buy

The deal to acquire the 10-strong national portfolio falls over after failing to attract an equity backer.


NZ King Salmon opens $60m rights issue
28 Apr 2022  

NZ King Salmon opens $60m rights issue

New Zealand King Salmon has opened its $60.1m underwritten pro rata 2.85 for 1 rights offer – the proceeds of which will be used to deleverage its balance sheet and improve liquidity.


Z Energy to delist on 10 May
28 Apr 2022   /

Z Energy to delist on 10 May

The High Court has issued final orders approving the scheme of arrangement governing Australian fuel retailer Ampol’s $2bn purchase of Z Energy.


MWE guides return to profit for FY22
27 Apr 2022   /

MWE guides return to profit for FY22

Marlborough Wine Estates Group Limited says it expects to make a net profit after tax of between $0.3m and $0.4m for the year to June 2022. The result turns around MORE »


Seeka updates on “challenging” 2022 harvest
27 Apr 2022  

Seeka updates on “challenging” 2022 harvest

Listed kiwifruit company Seeka has labelled the 2022 harvest across Australia and New Zealand as “challenging” amid labour, weather and supply chain headwinds.


Blue Sky suitor Lowe to pay up for pre-offer acquisitions
22 Apr 2022   /

Blue Sky suitor Lowe to pay up for pre-offer acquisitions

Blue Sky meats suitor Andrew Lowe is making a top up payment of close to $47,000 for shares he bought prior to launching a formal takeover offer for the Southland meat processor.


Move Logistics looks for dual listing on ASX
22 Apr 2022  

Move Logistics looks for dual listing on ASX

Transport and logistics specialists Move Logistics Group has applied for dual listing on the ASX, alongside its NZX listing.


Nestlé NZ delivers revenue rise in 2021
21 Apr 2022  

Nestlé NZ delivers revenue rise in 2021

Investment in sales and marketing rose by more than $7m, contributing to flat pretax profit in 2021.


Zespri trading halt lifted
20 Apr 2022   /

Zespri trading halt lifted

Kiwfruit marketer and exporter Zespri has lifted its annual trading halt.


Blue Sky takeover acceptances creep higher
19 Apr 2022   /

Blue Sky takeover acceptances creep higher

Southern Lamb Investment’s proposed takeover of Southland meat processor Blue Sky has backing from shareholders holding 59.27%


A closer look: NZKS overhaul will see 100 jobs go
14 Apr 2022  

A closer look: NZKS overhaul will see 100 jobs go

The salmon farmer expects many roles to go via natural attrition, as it reduces its harvest size from 8,000 to 6,500 tonnes.


Zespri SunGold, RubyRed licence revenue down
14 Apr 2022  

Zespri SunGold, RubyRed licence revenue down

Kiwifruit marketer Zespri says its revenue as a result of its SunGold and RubyRed licence release is anticipated to be between $290m and $305m, exclusive of GST.


NZ King Salmon posts $73m loss, launches $60m cap raise
13 Apr 2022  

NZ King Salmon posts $73m loss, launches $60m cap raise

Alongside the capital raise, the company is making structural changes to its farming model, slashing costs and shedding jobs.


NZ King Salmon trading halt, moots possible cap raise
13 Apr 2022  

NZ King Salmon trading halt, moots possible cap raise

The company says it will make a “material announcement regarding its full year results and a potential cap raise”.


Bakels wins revenue in FY21…
12 Apr 2022  

Bakels wins revenue in FY21…

The NZ divisions of the global Bakels group turned in solid performances in 2021.


…as GrainCorp cranks 2022 guidance by $120m
12 Apr 2022  

…as GrainCorp cranks 2022 guidance by $120m

Grain and edible oils business GrainCorp has lifted its earnings guidance by at least $110m on the back of significant global demand caused in part by Russia’s invasion of Ukraine.


Ngati Porou Seafoods expands with $7.5m Akaroa Salmon deal
11 Apr 2022   /

Ngati Porou Seafoods expands with $7.5m Akaroa Salmon deal

The iwi-controlled entity makes its first foray into aquaculture as part of a jv with private equity.


Blue Sky takeover acceptances ratchet up
11 Apr 2022   /

Blue Sky takeover acceptances ratchet up

Southern Lamb Investment’s proposed takeover of Southland meat processor Blue Sky has backing from shareholders holding 56.79%.


My Food Bag lifts lid on “strong” full years
8 Apr 2022  

My Food Bag lifts lid on “strong” full years

Shares rally as the meal-kit company offers an early look at revenue and EBIDTA.


Cooks Coffee Company to rationalise shareholders
7 Apr 2022  

Cooks Coffee Company to rationalise shareholders

Auckland-headquartered international coffee chain franchise Cooks Coffee Company intends to exercise the power of sale of shares, following a significant repositioning which included a name change, $5.5m capital raise and share consolidation.


NZ Coastal Seafoods to raise $1.5m
5 Apr 2022   /

NZ Coastal Seafoods to raise $1.5m

New Zealand Coastal Seafoods Limited is raising $1.5m from new and existing shareholders.


Blue Sky bid “unreasonable”, undervalues business
4 Apr 2022   /

Blue Sky bid “unreasonable”, undervalues business

Independent directors and advisers say Southern Lamb’s $3 offer price falls short of recognising the full value of the Southland meat processor.


Synlait strong in H1 but headwinds in the offing
1 Apr 2022  

Synlait strong in H1 but headwinds in the offing

The dairy company’s turnaround is gaining traction with its ingredients business leading growth.


SFF boosts profit, revenue
1 Apr 2022  

SFF boosts profit, revenue

Silver Fern Farms Ltd has lifted its annual net profit to $103.8m in the year to December, up from $65.4m the previous year, off the back of strong demand and high global prices.


Blue Sky offer goes unconditional
1 Apr 2022   /

Blue Sky offer goes unconditional

Southern Lamb Investments’ takeover offer of Blue Sky Pastures has gone unconditional after receiving more than 50% share acceptances.


NZ milk production falls 8.2% in Feb – Fonterra
1 Apr 2022  

NZ milk production falls 8.2% in Feb – Fonterra

Fonterra has reported a fall in milk production of 8.2% in New Zealand in February, when compared with the same month last year, according to its latest global dairy update.


NZ King Salmon delays FY results due to Omicron
31 Mar 2022  

NZ King Salmon delays FY results due to Omicron

New Zealand King Salmon has been granted permission to delay the release of its full year results due to Omicron taking out members of its finance team and audit provider.


ComCom clears Ebos’ LifeHealthcare acquisition
31 Mar 2022   /

ComCom clears Ebos’ LifeHealthcare acquisition

Healthcare and pet food company Ebos Group has been cleared to buy rival company LifeHealthcare.


Good Spirits delays $27m Nourish acquisition
31 Mar 2022   /

Good Spirits delays $27m Nourish acquisition

The completion of Auckland pub group Good Spirits Hospitality’s conditional takeover of restaurant owner Nourish Group has been delayed until Q2.


Scales CEO pay bump after strong year
29 Mar 2022  

Scales CEO pay bump after strong year

The diversified agribusiness says it is looking at a number of investments to boost its ingredients business.


Mt Cook Alpine Salmon Catalist auction opens
29 Mar 2022   /

Mt Cook Alpine Salmon Catalist auction opens

Mt Cook Alpine Salmon’s quarterly auction has gone live on Catalist .


Trading halt for Zespri tender prep
29 Mar 2022  

Trading halt for Zespri tender prep

Kiwifruit grower Zespri will go into a trading halt on the Unlisted Stock Exchange from tomorrow at 5 o’clock for three weeks.


Good Spirits Hospitality gets another interest waiver
28 Mar 2022   /

Good Spirits Hospitality gets another interest waiver

Good Spirits Hospitality has agreed a waiver with its lender Pacific Dawn in respect of the interest due and payable for the quarter ended 31 March 2022.


Cooks Global Foods consolidates shares, changes name
24 Mar 2022  

Cooks Global Foods consolidates shares, changes name

Auckland-headquartered international coffee chain Cooks Global Foods plans to consolidate its shares, as well as change its name.


Warehouse profit slumps on Auckland lockdowns
23 Mar 2022   /

Warehouse profit slumps on Auckland lockdowns

The Warehouse Group’s half-year profit has fallen 8.2% to $50.4m with the company citing Auckland’s extended Covid-19 alert level 4 and level 3 lockdowns for the decline.


CGF, Me Today issues new shares in capital raises
23 Mar 2022   /

CGF, Me Today issues new shares in capital raises

Auckland-headquartered international coffee chain Cooks Global Foods has issued 80,989,340 new shares at 3 cents each totalling $2.43m following a shortfall from its rights issue last year.


Shareholder questions “serious errors” in Me Today’s $36m King Honey deal
18 Mar 2022   /

Shareholder questions “serious errors” in Me Today’s $36m King Honey deal

The healthcare and wellness company has had to turn to its investors for cash after being surprised by inventory levels after its acquisition of King Honey.


Fonterra foodservice suffers as costs soar
17 Mar 2022  

Fonterra foodservice suffers as costs soar

A higher milk price heaped pressure on the dairy co-op’s foodservice and consumer margins, leading to a fall in interim profit.


Fonterra CFO Marc Rivers resigns
17 Mar 2022  

Fonterra CFO Marc Rivers resigns

Fonterra will shortly begin recruiting to replace Marc Rivers, who has resigned after four years with the co-op.


Mt Cook Alpine Salmon looks for liquidity on Catalist
16 Mar 2022   /

Mt Cook Alpine Salmon looks for liquidity on Catalist

The current shareholders will be able to cash out of the company, currently generating nearly $40m in revenue, via the new capital platform.


NZCS narrows H1 loss, uncertainty remains
15 Mar 2022  

NZCS narrows H1 loss, uncertainty remains

Seafood producer New Zealand Coastal Seafoods has narrowed its half-yearly loss in the six months to December 2021 to $1.5m, compared with the previous $1.7m loss.


Catalano’s Seafood raises A$5m from ASX debut
15 Mar 2022   /

Catalano’s Seafood raises A$5m from ASX debut

Catalano’s Seafood has listed on the Australian Stock Exchange, raising over A$5m from its initial public offering.


Blue Sky takeover to plug $30m capex gap – investors
10 Mar 2022   /

Blue Sky takeover to plug $30m capex gap – investors

A $30m capex requirement and a desire for long-term sustainability are the motivations for Blue Sky Pastures investors Scott O’Donnell and Andrew Lowe to launch their takeover offer.


Danone takes B Corp crown for ANZ F&B
10 Mar 2022   /

Danone takes B Corp crown for ANZ F&B

Dairy giant Danone has become the largest certified B Corporation food and drink company in Australia and New Zealand.


F&B puts in solid end to record 2021 M&A
9 Mar 2022   /

F&B puts in solid end to record 2021 M&A

A flurry of F&B-related takeovers were recorded in the final quarter of 2021, closing out a record year for mergers and acquisitions in New Zealand, according to PwC.


Blue Sky target of takeover
7 Mar 2022   /

Blue Sky target of takeover

Lamb processing company Blue Sky Meats says it is potentially the target of a takeover.


SeaDragon secures new $500k loan agreement
7 Mar 2022   /

SeaDragon secures new $500k loan agreement

SeaDragon has secured a new loan agreement of $500,000 from majority shareholder Pescado Holdings, as well as pushing out the repayment date of an existing loan facility.


Me Today seeks $6m raise approval after “disappointing” King Honey projections
2 Mar 2022   /

Me Today seeks $6m raise approval after “disappointing” King Honey projections

Me Today Group has called a special meeting for Friday 18 March to seek approval from shareholders for a $6m placement of additional share capital.


Fonterra suspends Russia dairy exports
28 Feb 2022   /

Fonterra suspends Russia dairy exports

The move is understood to affect only a small amount of product, primarily butter.


T&G’s numbers sour, stays the course on strategy
28 Feb 2022  

T&G’s numbers sour, stays the course on strategy

The produce grower and exporter suffers from a tight labour market, poor weather, and supply chain disruptions.


Restaurant Brands delivers growth despite Covid challenges
28 Feb 2022   /

Restaurant Brands delivers growth despite Covid challenges

Rising costs saw some margin erosion, particularly in Australia and New Zealand.


Interims: MWE overseas sales surge, Good Spirits suffers lockdown hit
28 Feb 2022   /

Interims: MWE overseas sales surge, Good Spirits suffers lockdown hit

The listed companies brush off Covid-19 chills as they look to grow via distribution deals and acquisitions.


Supply chain costs eat into record H1 Delegat case sales
25 Feb 2022   /

Supply chain costs eat into record H1 Delegat case sales

Case sales across Australia, NZ and Asia Pacific jumped 14% but it wasn’t enough to make up for increased costs.


Zespri 2022 payout, net profit forecasts rise
25 Feb 2022   /

Zespri 2022 payout, net profit forecasts rise

Zespri is forecasting its total fruit and service payment for the 2021-22 season to be $2.38bn, up from $2.25bn last season.


Falkenstein’s Just Life feels Auckland pinch
25 Feb 2022  

Falkenstein’s Just Life feels Auckland pinch

Tony Falkenstein’s Just Life Group has reported a lower net profit of $1.57m in the six months ended December because of Auckland’s extended lockdown.


Countdown sales top $4bn in H1 – Woolworths
24 Feb 2022  

Countdown sales top $4bn in H1 – Woolworths

Lockdowns and higher food prices pushed Countdown’s first half food sales up 8.3% to more than NZ$4bn, according to Australian parent Woolworths.


Pet food pushes Scales net profit up 39%
24 Feb 2022  

Pet food pushes Scales net profit up 39%

The company’s food ingredients business saw FY21 earnings jump 52%.


Comvita hits acquisition trail, no dice on first target
24 Feb 2022   /

Comvita hits acquisition trail, no dice on first target

The company says it wants to consolidate ownership of the mānuka honey sector to generate operating leverage and drive “higher category standards”.


Foley Wines interim profit jumps 38% on premium push
24 Feb 2022  

Foley Wines interim profit jumps 38% on premium push

Foley Wines half-year profit has risen 37.7% to $3.5m as it pushes further into the premium market.


A closer look: A2 Milk’s products, performance and price
22 Feb 2022   /

A closer look: A2 Milk’s products, performance and price

Its Australian market share grows, but a wobbly US performance continues, and in-roads are made in China.


Interims: Pāmu profit jumps, Move Logistics dips
22 Feb 2022   /

Interims: Pāmu profit jumps, Move Logistics dips

Pāmu has posted a net profit after tax of $41m for the half-year ended 31 December 2021, up from $8m in 2020 as commodity prices increase across its forestry and farming portfolio.


A2 first half profit dives, green shoots sighted
21 Feb 2022  

A2 first half profit dives, green shoots sighted

The company says the results are inline with expectations and that it has made progress on its turnaround initiatives.


Big Chill “surge” boosts Freightways H1 profit
21 Feb 2022   /

Big Chill “surge” boosts Freightways H1 profit

The freight carrier, which recently bought Big Chill and ProducePronto, says it is open to complementary acquisition opportunities.


Seeka reports record revenue, pockets $7.6m PSA payout
18 Feb 2022  

Seeka reports record revenue, pockets $7.6m PSA payout

Listed kiwifruit company Seeka has delivered a strong set of annual results on the back of improved sales, a focus on costs, and $7.6m from the Crown’s PSA settlement.


Strong food sector demand sees MHM interim profit surge 279%
18 Feb 2022  

Strong food sector demand sees MHM interim profit surge 279%

Listed food industry supplier MHM Automation has reported a net profit of $1.41m for the six months to December 2021, up 279% on the previous corresponding period.


Fonterra sells down GDT ownership
17 Feb 2022  

Fonterra sells down GDT ownership

Fonterra is selling down its 100% ownership of the Global Dairy Trade platform, bringing in the European Energy Exchange and the New Zealand Stock Exchange.


Black Hawk, Vitapet revenue jumps to help Ebos to record revenue
16 Feb 2022   /

Black Hawk, Vitapet revenue jumps to help Ebos to record revenue

Strong sales of its premium pet food brands has boosted revenue at Ebos Group’s animal care division.


Latest listed: T&G guidance jumps on $80m sale, Blis books Q3 loss
11 Feb 2022   /

Latest listed: T&G guidance jumps on $80m sale, Blis books Q3 loss

T&G Global says its group profit for the 2021 financial year is now forecast to be between $12.5m – $14.5m, up from its October guidance of $4m – $10m.


Sanford Q1 signals start of Covid recovery, Omicron caveat…
10 Feb 2022  

Sanford Q1 signals start of Covid recovery, Omicron caveat…

Strategy refresh work continues ahead of a June announcement, as Q1 prices and volumes improve on last year.


…while NZ Coastal Seafoods’ Q4 revenue falls as it transitions from daigou
10 Feb 2022   /

…while NZ Coastal Seafoods’ Q4 revenue falls as it transitions from daigou

But the company says it is seeing benefits from a renewed focus on the domestic market and a sales drive overseas.


Seeka completes NZ Fruit acquisition
4 Feb 2022   /

Seeka completes NZ Fruit acquisition

Seeka has completed its acquisition of Gisborne-based New Zealand Fruits in a deal that values the latter at $21m.


Mainfreight profit rockets 85%, braces for Omicron absenteeism
2 Feb 2022  

Mainfreight profit rockets 85%, braces for Omicron absenteeism

Its NZ vaccine mandate has kicked in and navigating constraints due to Omicron-enforced absenteeism is cited as its top priority.


NZKS shares fall 15% on earnings downgrade
2 Feb 2022  

NZKS shares fall 15% on earnings downgrade

New Zealand King Salmon shares have slumped 15% after the company warned of lower earnings.


NZKS warns of “serious” earnings hit as warm waters kill fish
1 Feb 2022  

NZKS warns of “serious” earnings hit as warm waters kill fish

New Zealand King Salmon says warm water temperatures are leading to “higher than expected sea farm mortality” that will hit earnings by up to $5m.


Seeka to buy Gisborne business valued at $21m
10 Dec 2021   /

Seeka to buy Gisborne business valued at $21m

Seeka says it has entered an amalgamation agreement to acquire Gisborne packing business New Zealand Fruits Limited.


Black Hawk owner Ebos raises $674m
10 Dec 2021   /

Black Hawk owner Ebos raises $674m

Healthcare and animal care company Ebos Group says it has successfully raised $674m from existing and new investors across New Zealand, Australia and further afield.


Woolworths NZ pretax profit dips in first full year of Covid
9 Dec 2021   /

Woolworths NZ pretax profit dips in first full year of Covid

Falling sales and rising operational expenses eat into pretax profit, even as it made saving on the products it sells.


Black Hawk owner Ebos makes $1.3bn acquisition
9 Dec 2021   /

Black Hawk owner Ebos makes $1.3bn acquisition

Healthcare and animal care company Ebos Group is buying Australian peer LifeHealthcare for A$1.17bn ($1.3bn). Ebos, which owns pet food brands Black Hawk and VitaPet, said today that it will MORE »


Fonterra’s new structure gets green light
9 Dec 2021  

Fonterra’s new structure gets green light

Fonterra shareholders have overwhelmingly backed changes to the co-op’s capital structure with 85.16% of farmer votes supporting them.


NZ King Salmon, Scales upgrade guidance, Delegat sanguine on FY22

NZ King Salmon, Scales upgrade guidance, Delegat sanguine on FY22

New Zealand King Salmon and Scales have upgraded their earnings forecasts citing improving conditions and strong ingredients performance respectively.


Cooks Global Foods details $8m rights issue
8 Dec 2021   /

Cooks Global Foods details $8m rights issue

NZX-listed international coffee chain Cooks Global Foods has set a price of 3 cents a share for a rights issue, which is targeting $8m to restructure its balance sheet.


High milk prices eat into Fonterra earnings
3 Dec 2021  

High milk prices eat into Fonterra earnings

The dairy co-op’s first quarter EBIT falls 24% drop and it revises earning guidance down as its milk price forecast hits a new high.


Countdown owner Woolworths in $907m pharma play
3 Dec 2021  

Countdown owner Woolworths in $907m pharma play

Countdown owner Woolworths has made a last-minute takeover offer for pharmacy group Australian Pharmaceutical Industries for A$871m (NZ$907m).


GWF investing “hundreds of millions” into sustainability
2 Dec 2021   /

GWF investing “hundreds of millions” into sustainability

George Weston Food says it is making the investment in current or planned activities across New Zealand and Australia.


Seeka guides FY21 profit near $24m
2 Dec 2021   /

Seeka guides FY21 profit near $24m

Seeka says it expects net profit before tax at the upper end of its $22m and $24m guidance range for FY21 thanks to an expected Crown settlement payout over the arrival of the vine killing disease PSA.


Burger Fuel, Cooks Global Foods make headway in half years
30 Nov 2021   /

Burger Fuel, Cooks Global Foods make headway in half years

Burger Fuel signals a holding pattern while UK-heavy CGF rides the first wave of the global recovery.


Me Today forced to raise $6m after King Honey inventory surprise
29 Nov 2021   /

Me Today forced to raise $6m after King Honey inventory surprise

The healthcare and wellness company turns to shareholders to stump up funds because of “cashflow pressure” following its King Honey acquisition.


Speirs signals “challenging” demand and supply dynamics
25 Nov 2021   /

Speirs signals “challenging” demand and supply dynamics

The salad supplier grapples with increasing costs and conducts a review of margins to ensure acceptable returns.


Zespri lifts SunGold returns forecast, cuts organic
24 Nov 2021   /

Zespri lifts SunGold returns forecast, cuts organic

Zespri has increased its forecast SunGold kiwifruit returns to $11.05 per tray for the 2021-22 season, up from the $10.92 guided in August.


Alliance gross profit jumps to $42m
23 Nov 2021  

Alliance gross profit jumps to $42m

Meat processing co-operative Alliance Group has posted an operating profit of $41.9m before tax and distributions for the year ending September 30, up from $27.3m last year.


My Food Bag M&A on cards as H1 profit jumps 25%…
19 Nov 2021  

My Food Bag M&A on cards as H1 profit jumps 25%…

The meal kit company moots an M&A-fuelled, vertically-integrated future.


…while its new Kitchen offer hits launch targets, gathers intel for product expansion
19 Nov 2021  

…while its new Kitchen offer hits launch targets, gathers intel for product expansion

My Food Bag is planning to expand its Kitchen product range into new categories, untether orders from its meal kits, and shorten delivery times pitting it directly against supermarkets.


Delta sees Savor forgo $4m, but drives tasty online sales
19 Nov 2021   /

Delta sees Savor forgo $4m, but drives tasty online sales

Hospitality group Savor says it has missed out on around $4m from the Delta outbreak.


Sanford preps new strategy as earnings fall 39%
18 Nov 2021  

Sanford preps new strategy as earnings fall 39%

Mussels were the hardest hit of Sanford’s three divisions, with rebuilding profitability a priority for 2022.


Covid slows H1 trading at Savor
18 Nov 2021   /

Covid slows H1 trading at Savor

The hospitality group was hit by Delta blues in first half, but a period of consolidation and cost-cutting puts in better shape for recovery.


Blis suffers US sales hit in $1.8m interim loss
18 Nov 2021   /

Blis suffers US sales hit in $1.8m interim loss

Probiotics firm Blis Technologies has reported an interim loss of $1.80m for the six months to September 2021, down 268% on the $1.07m profit it made for the same period last year.


Foley Wines sticks to guidance, signals uncertainty
18 Nov 2021  

Foley Wines sticks to guidance, signals uncertainty

Foley Wines is sticking to forecast earnings before tax of $8m for FY22 but warns of uncertainty.


A2 Milk’s new growth strategy: People & planet top of 5 strategic priorities
17 Nov 2021  

A2 Milk’s new growth strategy: People & planet top of 5 strategic priorities

The company has unveiled its new strategy to return it to the high-growth business it was pre-Covid.


Just Life Group confirms final dividend
16 Nov 2021  

Just Life Group confirms final dividend

Tony Falkenstein’s Just Life Group will pay a final dividend of 1.4 centre a share for the year ended 30 June 2021.


Costs, prices & profit – Mondelēz’s Cara Liebrock
15 Nov 2021  

Costs, prices & profit – Mondelēz’s Cara Liebrock

While 2021 hasn’t all gone to plan, Mondelēz NZ’s MD says it will still be a strong year with growth to follow and a possible global opportunity for a Kiwi confectionery favourite.


Good Spirits toasts $27m Nourish Group acquisition
15 Nov 2021   /

Good Spirits toasts $27m Nourish Group acquisition

The Auckland pub group gobbles up Nourish in a “transformational growth opportunity” creating one of New Zealand’s largest hospitality operators.


Ngāi Tahu’s food numbers: Seafood strong, honey and beef improving
11 Nov 2021  

Ngāi Tahu’s food numbers: Seafood strong, honey and beef improving

The iwi’s seafood business sees operating profit leap 37%, offsetting a poor FY21 for honey and farming.


Mainfreight makes hay as pretax profit rockets 78%
11 Nov 2021   /

Mainfreight makes hay as pretax profit rockets 78%

Supply and demand imbalance as well as a diversified global footprint work in favour of logistics company Mainfreight.


$6.6m acquisition of Orangewood good to go – Seeka
11 Nov 2021   /

$6.6m acquisition of Orangewood good to go – Seeka

Seeka says all the conditions of its $6.55m deal to acquire Kerikeri-based kiwifruit grower Orangewood Limited have now been met.


Fonterra capital structure vote 9 December
10 Nov 2021  

Fonterra capital structure vote 9 December

Fonterra’s proposed changes to its capital structure will be put to a shareholder vote on 9 December.


Record F&B sales growth at Z Espress
8 Nov 2021  

Record F&B sales growth at Z Espress

Z Energy has seen record interim food and beverage sales at its Z Espress stations.


Prolife Foods beds in Australian brands in category expansion
5 Nov 2021   /

Prolife Foods beds in Australian brands in category expansion

The Mother Earth owner says its acquisition of Sunsol and Lucky is a “leap forward” in a key international market for the Hamilton-based business.


Tip Top owner gets ComCom go-ahead to buy Dad’s Pies
4 Nov 2021   /

Tip Top owner gets ComCom go-ahead to buy Dad’s Pies

The baking behemoth that also owns pie company Big Ben secures sign-off from the Commerce Commission to buy rival Dad’s Pies.


Seeka secures another $38m for expansion, acquisitions
3 Nov 2021   /

Seeka secures another $38m for expansion, acquisitions

New Zealand’s largest kiwifruit grower says it has negotiated an increased debt facility of $190m, up from $152m.


Former Bidfood GM drives NZ Coastal Seafoods 76% sales surge
2 Nov 2021   /

Former Bidfood GM drives NZ Coastal Seafoods 76% sales surge

New Zealand Coastal Seafoods says a surge in quarterly revenue can be attributed to the appointment of former Bidfood general manager Peter Fletcher to chief of sales.


SeaDragon secures $1.5m facility from majority shareholder
2 Nov 2021   /

SeaDragon secures $1.5m facility from majority shareholder

Omega fish oils refiner SeaDragon says it has signed a new secured loan agreement of up to $1.5m with its majority shareholder, Pescado Holdings.


Cookie Time snaps up Em’s Power Cookies
1 Nov 2021   /

Cookie Time snaps up Em’s Power Cookies

Cookie Time will ramp up distribution of the boutique brand into mainstream grocery retail across the country.


T&G bolsters balance sheet with $80m sale and leaseback
1 Nov 2021  

T&G bolsters balance sheet with $80m sale and leaseback

The produce giant will use the cash to fuel its growth strategy, as it faces a profit squeeze from Covid-19.


Fix & Fogg, Spring Sheep, Delivereasy recognised in Deloitte Fast 50
1 Nov 2021  

Fix & Fogg, Spring Sheep, Delivereasy recognised in Deloitte Fast 50

Food firms Fix & Fogg and Spring Sheep Milk have made the Deloitte Fast 50 index, coming in at rank 22 and 24 respectively.


Lockdown drives Countdown, e-commerce Q1 sales surge
28 Oct 2021   /

Lockdown drives Countdown, e-commerce Q1 sales surge

Lockdown helped drive growth in the supermarket group’s Q1 results with e-commerce surging.


A2 Milk reset puts China, infant formula, innovation at core
27 Oct 2021  

A2 Milk reset puts China, infant formula, innovation at core

Dairy company A2 Milk has set a target of $2bn revenue within five years by “capturing its full potential” in the China infant formula market and ramping up innovation.


Pāmu, Westpac agree $85m sustainability-linked loan
27 Oct 2021   /

Pāmu, Westpac agree $85m sustainability-linked loan

New Zealand’s biggest farming business Pāmu is borrowing $85m from Westpac via a three-year sustainability-linked loan.


A2 Milk responds to more class action moves
22 Oct 2021   /

A2 Milk responds to more class action moves

The A2 Milk Company says it is aware of reports about a potential class action led by Australia’s Shine Lawyers but has no knowledge of any further legal proceedings.


Restaurant Brands: Solid Q3 despite NZ Covid impacts
22 Oct 2021   /

Restaurant Brands: Solid Q3 despite NZ Covid impacts

Restaurant Brands says it has delivered solid sales growth for its third quarter despite Covid store closures in New Zealand.


Seeka upgrades profit guidance, expects $7m legal payout
22 Oct 2021   /

Seeka upgrades profit guidance, expects $7m legal payout

New Zealand’s largest kiwifruit grower has upgraded its profit guidance for FY21.


Ebos preps Black Hawk rollout at new A$80m pet food factory
20 Oct 2021   /

Ebos preps Black Hawk rollout at new A$80m pet food factory

Healthcare and animal care company Ebos Group says its new A$80m pet food factory will soon start manufacturing its Black Hawk products.


Receivers close the books on Nosh Group – how much did it finally owe?
19 Oct 2021   /

Receivers close the books on Nosh Group – how much did it finally owe?

More than four years after premium supermarket chain Nosh went under, the receivers have published their final report.


Terra Vitae Vineyards dips into the red
19 Oct 2021   /

Terra Vitae Vineyards dips into the red

Villa Maria grape supplier Terra Vitae Vineyards has dipped into the red after what it said was “an extremely difficult growing year,” according to its 2021 annual report.


My Food Bag sales up, but so are costs
18 Oct 2021  

My Food Bag sales up, but so are costs

The meal kit company says it raised prices this month to offset increased ingredients and labour costs.


T&G issues profit warning
18 Oct 2021   /

T&G issues profit warning

The produce giant warns its FY21 profit could fall as much as 76% from the $16.6m it posted in 2020.


Greenfern to list on NZX with market cap of $21m
14 Oct 2021   /

Greenfern to list on NZX with market cap of $21m

The Taranaki-based medicinal cannabis and hemp producer’s shares start trading on the exchange from 11am Thursday 21 October.


SeaDragon retreats from $1k minimum shareholding condition
14 Oct 2021  

SeaDragon retreats from $1k minimum shareholding condition

Omega fish oils refiner SeaDragon says it will no longer try to sell the stock of shareholders holding less than $1,000 worth of shares.


$1.5bn Ziwi Peak sale in top three 2021 M&A deals
14 Oct 2021   /

$1.5bn Ziwi Peak sale in top three 2021 M&A deals

Law firm Simpson Grierson’s latest M&A report puts a value of US$1.057bn on FountainVest Partners’ purchase of NZ pet food company Ziwi Peak – the third largest New Zealand deal this year.


Comvita signals ‘strong’ Q1 earnings
12 Oct 2021   /

Comvita signals ‘strong’ Q1 earnings

Comvita has reported its first quarter EBITDA improved by 10.6% compared with Q1 last year.


Terra Vitae confirms Villa Maria shareholding, Indevin board appt
12 Oct 2021   /

Terra Vitae confirms Villa Maria shareholding, Indevin board appt

Terra Vitae Vineyards says Villa Maria Estate will remain one of its cornerstone shareholders with a 21.89% stake following the completion of its sale to Indevin Group.


Dad’s Pies acquisition ‘not a competition threat’ – GWF
11 Oct 2021   /

Dad’s Pies acquisition ‘not a competition threat’ – GWF

The new business would be a top three wholesale pie company in NZ but it wouldn’t weaken competition, says George Weston Foods.


“Unusual” year for Blue Sky Pastures
11 Oct 2021  

“Unusual” year for Blue Sky Pastures

Shipping issues, storage concerns and absenteeism created an “unusual” year for Blue Sky Pastures.


Just Life warns of lockdown impacts
11 Oct 2021   /

Just Life warns of lockdown impacts

Tony Falkenstein’s Just Life Group says Auckland’s ongoing lockdown will affect the company’s results.


George Weston Foods seeks ComCom clearance to acquire Dad’s Pies
8 Oct 2021   /

George Weston Foods seeks ComCom clearance to acquire Dad’s Pies

Both firms manufacture and supply savoury pies and sausage rolls in NZ.


New NZ home for Vitasoy Australia
7 Oct 2021   /

New NZ home for Vitasoy Australia

Pavé clinches the contract to manage New Zealand sales for the plant-milk giant in the fast-growing category.


Just Life expands supplements footprint
7 Oct 2021   /

Just Life expands supplements footprint

Tony Falkenstein’s Just Life Group has acquired supplements maker Intenza New Zealand. 


A2 Milk to “vigorously defend” class action
6 Oct 2021   /

A2 Milk to “vigorously defend” class action

A2 “considers that it complied with disclosures notifications at all time,” following a class claim filing in Australia alleging misleading or deceptive conduct.


Speirs Foods trading profit wilts 74% under Covid
5 Oct 2021   /

Speirs Foods trading profit wilts 74% under Covid

Lockdowns, lower demand for bulk products, and labour costs all eat into the supermarket salad supplier’s bottom line.


Ngāi Tahu Holdings posts record profit after seafood returns “with a vengeance”
5 Oct 2021  

Ngāi Tahu Holdings posts record profit after seafood returns “with a vengeance”

Seafood has “sprung back with a vengeance” helping the iwi’s operating performance, says company chair Mark Tume.


Indevin “excited by opportunities” after completing Villa Maria purchase
4 Oct 2021   /

Indevin “excited by opportunities” after completing Villa Maria purchase

Indevin New Zealand has completed its purchase of 100% of the shares of Villa Maria Estate Limited.


Villa Maria sale value revealed
1 Oct 2021   /

Villa Maria sale value revealed

Villa Maria was valued at $190m for its sale to Indevin Group in early August.


King Salmon posts $5.6m H1 loss, upbeat on H2 improvements
30 Sep 2021   /

King Salmon posts $5.6m H1 loss, upbeat on H2 improvements

With demand now exceeding supply and fish sizes recovering, the salmon company signals a second half revival.


“We need to dominate in the omni-channel paradigm” – Silver Fern Farms on its US strategy
29 Sep 2021   /

“We need to dominate in the omni-channel paradigm” – Silver Fern Farms on its US strategy

The meat exporter is driving into e-commerce in the US and is looking to join big online marketplaces like Amazon.


A closer look: Synlait shutters Talbot Forest factory for two years
28 Sep 2021  

A closer look: Synlait shutters Talbot Forest factory for two years

The loss-making speciality cheese plant is to close until FY24 after dragging down Synlait’s consumer food division.


Synlait posts $28.5m loss,  taps Grant Watson to be new CEO
27 Sep 2021  

Synlait posts $28.5m loss, taps Grant Watson to be new CEO

Miraka’s boss will join struggling Synlait in January to try and bring the dairy business back into the black by FY23.


Kono seeks COO – not CEO – with Taulelei departure
27 Sep 2021  

Kono seeks COO – not CEO – with Taulelei departure

The parent company of Nelson-based food and beverage exporter Kono is looking to fill the newly created role of chief operating officer, instead of recruiting a new chief executive to replace Rachel Taulelei.


Allpress’s wind up holding co with $100m left, mostly in cash
27 Sep 2021   /

Allpress’s wind up holding co with $100m left, mostly in cash

Allpress Espresso shareholders Michael and Jane Allpress are winding up their holding company with just over $100m in assets left, mostly in cash.


$2.5m snapper revenue boost for Sanford
27 Sep 2021  

$2.5m snapper revenue boost for Sanford

Listed seafood company Sanford is in line for an additional $2.5m of revenue after the Ministry for Primary Industries increase the commercial catch limit for snapper in the SNA8 fishery off the North Island’s west coast.


Me Today warns of lower King Honey sales after China inventory surprise
24 Sep 2021  

Me Today warns of lower King Honey sales after China inventory surprise

The healthcare and wellness company says sales of King Honey product will be “considerably less” than expected.


A closer look: Ingredients dip but Covid drives Fonterra’s consumer brands
24 Sep 2021  

A closer look: Ingredients dip but Covid drives Fonterra’s consumer brands

Covid-19 has changed consumer behaviour helping to drive Fonterra’s consumer brands, says CEO Miles Hurrell.


Delegat to invest $30m to drive growth
24 Sep 2021   /

Delegat to invest $30m to drive growth

Winemaker Delegat Group says it will invest $29.7m in FY22 to provide earnings growth in the years ahead.


Fonterra moots Chile exit, Aus IPO to put higher value NZ dairy centre stage
23 Sep 2021  

Fonterra moots Chile exit, Aus IPO to put higher value NZ dairy centre stage

A strategy reset will see billions invested in “differentiating NZ milk on the world stage” to drive the co-op up the value chain.


Sanford to pay $531k following death of fishing crewman
23 Sep 2021  

Sanford to pay $531k following death of fishing crewman

Th fishing company pleaded guilty to a charge of exposing workers to risk of death or serious injury.


Lockdowns creating challenges and opportunities – Restaurant Brands
23 Sep 2021   /

Lockdowns creating challenges and opportunities – Restaurant Brands

Ongoing lockdowns in Australia and New Zealand are creating challenges including increasing operating costs, says Restaurant Brands. “However, there have been opportunities with increased focus on takeout and delivery channels MORE »


How Comvita’s ‘unique’ model helped drive its $19m turnaround
16 Sep 2021   /

How Comvita’s ‘unique’ model helped drive its $19m turnaround

Comvita has released its annual report and its full of insight about how the company sees its operations and markets, including an extensive Q&A with board chair Brett Hewlett and chief executive David Banfield.


Fonterra cuts coal greenhouse gas emissions by 11%
16 Sep 2021   /

Fonterra cuts coal greenhouse gas emissions by 11%

Fonterra says it cut its greenhouse gas emissions from coal by 11% in one year thanks to the conversion to renewable wood pellets at its Te Awamutu site.


Olam Food Ingredients details Waikato dairy plan, makes key hires
15 Sep 2021   /

Olam Food Ingredients details Waikato dairy plan, makes key hires

Olam Food Ingredients has confirmed plans to develop a new dairy-processing facility in Waikato after exiting its ownership of Open Country Dairy earlier this year.


Seeka makes $6.6m offer to buy kiwifruit grower
15 Sep 2021   /

Seeka makes $6.6m offer to buy kiwifruit grower

Seeka has made an offer to acquire Kerikeri-based kiwifruit grower Orangewood Limited.


Good Spirits Hospitality gets loan extension
15 Sep 2021   /

Good Spirits Hospitality gets loan extension

Good Spirits Hospitality says it has reached an agreement with its lender Pacific Dawn to extend the date for repayment of its facility until 31 December 2022. 


Scales’ Mr Apple CEO banks $416k
14 Sep 2021  

Scales’ Mr Apple CEO banks $416k

The chief executive of Mr Apple, Andrew van Workum, has sold more than 80,000 shares in parent company Scales Corporation, raising $415,918 in the process, according to an NZX filing.


Comvita, Scales make director changes
14 Sep 2021  

Comvita, Scales make director changes

Manuka honey exporter Comvita has appointed a trio of new board directors, namely Bridget Coates, Yawen Wu and chief executive David Banfield.


Countdown cuts baddies in own brand products
13 Sep 2021  

Countdown cuts baddies in own brand products

The reformulation of Countdown’s own brand products sees 141 tonnes of sugar removed over three years.


Synlait signs $30m S&L deal
9 Sep 2021   /

Synlait signs $30m S&L deal

Synlait Milk has sold its Auckland premises at Richard Pearce Drive for $30.05m and will lease back the property.


Synlait looks for 150 layoffs to save up to $12m
8 Sep 2021  

Synlait looks for 150 layoffs to save up to $12m

The move to “review and reset the structure of the business” could see as many as 150 jobs go at the dairy company.


Senior food moves at T&G Fresh, Ngāi Tahu,  and an ex-Progressive boss’ new post
8 Sep 2021  

Senior food moves at T&G Fresh, Ngāi Tahu, and an ex-Progressive boss’ new post

Former Countdowners find new homes, while a COO and a CEO get bumped up the ranks at Ngāi Tahu.


Food investments on the menu at Ngāi Tahu
7 Sep 2021   /

Food investments on the menu at Ngāi Tahu

Ngāi Tahu Holdings CEO Mike Pohio says the iwi-controlled entity remains on the lookout for food investments following its $38m buy-up of Sanford shares.


Comvita wants to win over US with celeb-backed brand
7 Sep 2021   /

Comvita wants to win over US with celeb-backed brand

Developing a skincare brand means the honey company can promote the benefits of both mānuka and propolis to raise awareness in the US.


Good Spirits appoints new director
7 Sep 2021  

Good Spirits appoints new director

Good Spirits Hospitality has appointed commercial lawyer and experienced director John Seton to its board effective immediately.


A2 Milk, Synlait to be removed from S&P/ASX indices
7 Sep 2021   /

A2 Milk, Synlait to be removed from S&P/ASX indices

A quarterly review of all shares in the ASX to recalibrate the S&P Dow Jones Indices has seen New Zealand dairy companies A2 Milk and Synlait earmarked for removal from separate lists.


Ngāi Tahu’s Sanford stake tops 19% after $38m buy-up
3 Sep 2021   /

Ngāi Tahu’s Sanford stake tops 19% after $38m buy-up

Ngāi Tahu Investment now holds a 19.9% stake in seafood company Sanford, making it the largest single shareholder in what is New Zealand’s largest seafood company.


Sanford shares jump as Ngāi Tahu takes 12%
2 Sep 2021   /

Sanford shares jump as Ngāi Tahu takes 12%

Sanford’s share price jumped almost 25% yesterday as investors reacted to the news that Ngāi Tahu Investments was increasing its stake in New Zealand’s largest seafood company.


Mainfreight update sees profit jump 83%
2 Sep 2021  

Mainfreight update sees profit jump 83%

Global transport and logistics company Mainfreight reported a 43% jump in group revenue and an 83% leap in profit before tax in a 22-week trading update released yesterday.


Comvita launches share buy-back scheme
2 Sep 2021   /

Comvita launches share buy-back scheme

Manuka honey supplier Comvita says it will acquire up to 350,000 of its shares, which are currently trading at about $3.65.


Ngāi Tahu fishes for “significant” Sanford stake
1 Sep 2021   /

Ngāi Tahu fishes for “significant” Sanford stake

The iwi investor is trying to buy a chunk of the seafood company, although it says it has “no current intention” to launch a takeover.


NZ wine exports fall for first time in 26 years
31 Aug 2021  

NZ wine exports fall for first time in 26 years

A smaller vintage sees the value of exports drop 3% just as industry achieves its 10-year $2bn goal.


…while Marlborough Wine Estates dips into the red
31 Aug 2021  

…while Marlborough Wine Estates dips into the red

The Otu Estate owner counts the cost of a smaller 2021 harvest and investment into growing its branded wine sales.


Falkenstein’s JLG lifts profit 13%
31 Aug 2021   /

Falkenstein’s JLG lifts profit 13%

Tony Falkenstein’s Just Life Group has reported net profit of $3.3m for the year to June 2021, up 12.9% on the previous period.


Good Spirits narrows loss in another challenging year
31 Aug 2021   /

Good Spirits narrows loss in another challenging year

Good Spirits Hospitality has reported a provisional net loss after tax of $670,000 for the year to June 2021, better than the $5.8m loss it made in FY20. Total revenue was down MORE »


Countdown sales stutter in 2021 after lockdown boom
30 Aug 2021   /

Countdown sales stutter in 2021 after lockdown boom

Revenue was down 6% in FY21, although online sales jumped more than 30%.


MHM Automation profit boost
30 Aug 2021  

MHM Automation profit boost

MHM Automation, which services the global dairy, meat, horticulture and food processing sectors, delivered an after-tax profit of $4.1 in its annual results to 30 June 2021.


Winemakers toast strong results in uncertain year
27 Aug 2021   /

Winemakers toast strong results in uncertain year

Delegat Group and Foley Wines both deliver record operational results, despite pandemic disruption.


A2 Milk net profit plunges 79%, strategy review underway
26 Aug 2021  

A2 Milk net profit plunges 79%, strategy review underway

The prolonged impact of Covid-19 and a rapidly changing China market has prompted the company to launch a growth strategy review.


Comvita posts $9.5m profit, resumes dividend
26 Aug 2021   /

Comvita posts $9.5m profit, resumes dividend

A turnaround is taking hold at the honey company, which is focussed on growth in the world’s two biggest honey markets, China and the US.


SIO swoops on McCain’s Sara Lee in c.$100m deal
25 Aug 2021  

SIO swoops on McCain’s Sara Lee in c.$100m deal

The Christchurch investor follows its $30m purchase of Original Foods by acquiring the iconic dessert maker.


Scales upgrades FY guidance after solid H1
25 Aug 2021  

Scales upgrades FY guidance after solid H1

Diversified focus put agribusiness on track to to deliver full year net profit of between $32 – $37m.


Restaurant Brands serves up strong interims
24 Aug 2021   /

Restaurant Brands serves up strong interims

First half sales jump 41% and underlying net profit doubles on the back of Covid-free trading in NZ and Californian KFC deal.


New products, potential acquisitions and that IPO – first My Food Bag AGM takeaways
20 Aug 2021  

New products, potential acquisitions and that IPO – first My Food Bag AGM takeaways

My Food Bag held its inaugural AGM yesterday with bosses touching on thorny issues following the group’s lacklustre IPO and updating on the group’s new product range performance.


Seeka interim profit jumps, FY guidance up
20 Aug 2021   /

Seeka interim profit jumps, FY guidance up

New Zealand’s largest kiwifruit grower, Seeka, posted a sharp rise in net profit before tax in the six months ended 30 June, up 77% to $30.8m compared with the same six months last year.


SeaDragon ditches CEO role, Nevin moves to COO
17 Aug 2021   /

SeaDragon ditches CEO role, Nevin moves to COO

The news follows Bryan Mogridge’s appointment as executive chair of the omega fish oils refiner.


Is Nestlé lining up A2 Milk?
16 Aug 2021   /

Is Nestlé lining up A2 Milk?

Suitors are reported to be weighing options around A2, but any potential offer would only be made after the milk company’s annual results next week.


PharmaZen profit tumbles
9 Aug 2021   /

PharmaZen profit tumbles

Operating costs skyrocketed at the nutritional ingredient manufacturer during the six months to June.


My Food Bag in D2C product play
6 Aug 2021  

My Food Bag in D2C product play

My Food Bag has launched a range of products as part of drive into New Zealand’s $37bn retail food sector.


T&G Global interim profit drops 63%
5 Aug 2021  

T&G Global interim profit drops 63%

Summer storms, supply chain disruption and labour shortages all weigh on first half performance.


Synlait strikes debt deal with banks
3 Aug 2021  

Synlait strikes debt deal with banks

Synlait Milk has agreed terms to restructure its maturing debt pile following discussions with its banking syndicate after it secured a waiver for relevant FY21 covenants.


Foodstuffs’ Covid FY21 results – how much money did it make?
2 Aug 2021   /

Foodstuffs’ Covid FY21 results – how much money did it make?

So, how much money did the largest supermarket group in NZ make in the year of Covid?


NZ King Salmon more upbeat
2 Aug 2021  

NZ King Salmon more upbeat

New Zealand King Salmon has advised its earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be between $8 – $10m with a stronger second half forecast.


Taco Bell to open in Dunedin
30 Jul 2021  

Taco Bell to open in Dunedin

Taco Bell NZ has announced its third South Island location, with a restaurant planned to be open in Dunedin by the summer.


Zespri looks to Horizon with $160m upgrade
26 Jul 2021  

Zespri looks to Horizon with $160m upgrade

Zespri says its Horizon Programme to upgrade its ageing internal systems and processes will cost about $160m over the three- to four-year life of the project. The co-op said on MORE »


Wait and see for Fonterra fund future
22 Jul 2021  

Wait and see for Fonterra fund future

The manager of the Fonterra Shareholders’ Fund is continuing to discuss the dairy group’s capital structure proposals in confidence with Fonterra and with advisers, as it awaited more details regarding the future of the fund.


Opportunities, scale and speed – Blis on its $9m Probi partnership
21 Jul 2021  

Opportunities, scale and speed – Blis on its $9m Probi partnership

Dunedin probiotics firm Blis Technologies has been given access to a raft of new global opportunities after selling a 13% stake to form a strategic partnership with Swedish giant Probi.


T&G Global’s shareholding shuffle
21 Jul 2021  

T&G Global’s shareholding shuffle

International fresh produce company T&G Global’s majority shareholder, German multinational conglomerate BayWa AG, has transferred its shares to BayWa Global Produce GmbH.


Cooks Global Foods annual report update
21 Jul 2021  

Cooks Global Foods annual report update

Coffee chain franchise company Cooks Global Foods Limited is working towards releasing its annual report to market on Friday 30 July.


Ceres Organics looks to next 40 years with new investment to drive growth
19 Jul 2021   /

Ceres Organics looks to next 40 years with new investment to drive growth

Organics pioneer Noel Josephson has set up his nearly 40-year-old firm with new leadership and a plan to expand.


Fonterra to revise restructuring following feedback
19 Jul 2021  

Fonterra to revise restructuring following feedback

Farmer feedback set to shape Fonterra’s revised capital structure proposal, according to the dairy co-operative.


Sacred Hill’s $99m debt and liabilities pile
15 Jul 2021   /

Sacred Hill’s $99m debt and liabilities pile

Winemaking group Sacred Hill was tipped into receivership after amassing debts and liabilities of $98.5m according to a report from the joint receivers who are handling the sale of the Hawke’s Bay business.


Delegat signals flat profit, warns of shipping issues
14 Jul 2021   /

Delegat signals flat profit, warns of shipping issues

Delegat Group has released its unaudited numbers for the 2021 year, but warned the official numbers are likely to be worse when they come out in late August.


A2 in APAC restructure, reshuffle and recruitment
12 Jul 2021   /

A2 in APAC restructure, reshuffle and recruitment

Its Asia Pacific division will be split three ways in an effort to revive growth.


FMA clears Fonterra on write-downs
12 Jul 2021   /

FMA clears Fonterra on write-downs

The Financial Markets Authority has found no evidence to press forward with action against Fonterra regarding the timing of accounting write-downs for Beingmate Baby and Child Food Co and the China Farm assets.


Landcorp/Pāmu lifts profit forecast to up to $64m
12 Jul 2021  

Landcorp/Pāmu lifts profit forecast to up to $64m

State-owned farmer Landcorp/Pāmu has upgraded its forecast EBITDAR to between $59m and $64m for the year to June, up from its previous forecast in February of $45m to $50m.


Blis bump on $9m Probi partnership
8 Jul 2021  

Blis bump on $9m Probi partnership

NZX-listed probiotics firm Blis Technologies said its strategic partnership with Swedish giant Probi will open up “significant growth opportunities” and see the New Zealand firm’s products delivered to new markets around the globe.


OIO greenlights A2 Milk’s $268m Mataura deal
6 Jul 2021  

OIO greenlights A2 Milk’s $268m Mataura deal

A2 Milk says the Overseas Investment Office has signed off its proposed $268.5m purchase of a 75% interest in Southland dairy nutrition business Mataura Valley Milk.


SeaDragon hits rough water, plans to stay the course
5 Jul 2021  

SeaDragon hits rough water, plans to stay the course

SeaDragon bosses remain committed to a turnaround at the omega-3 oil producer despite “unsatisfactory” full year results.


Lion claws back carbon emissions
5 Jul 2021   /

Lion claws back carbon emissions

Lion reveals 2020 sustainability scorecard and commits to action on value chain carbon emissions.


East Imperial to complete $60m London listing
5 Jul 2021   /

East Imperial to complete $60m London listing

Auckland-based premium mixer company East Imperial is set to list on the London Stock Exchange after a reverse takeover which values it at almost $60m.


Fonterra exits China jv in $163m deal
29 Jun 2021   /

Fonterra exits China jv in $163m deal

Fonterra is offloading its two joint venture farms in China to Singapore-based AustAsia Investment Holdings for $163m.


‘Simplicity, focus’ – Comvita’s David Banfield’s turnaround mantra
28 Jun 2021   /

‘Simplicity, focus’ – Comvita’s David Banfield’s turnaround mantra

It’s back to basics for the honey company, which the CEO says had become overly complex and ‘disconnected from consumers’.


‘Solid’ year for Mrs Higgins, growth expected from lobster, kiwifruit ventures – Rangatira
28 Jun 2021  

‘Solid’ year for Mrs Higgins, growth expected from lobster, kiwifruit ventures – Rangatira

The investor also says that its kiwifruit venture will soon start bearing fruit.


Me Today shareholders sign off $36m King Honey deal
28 Jun 2021   /

Me Today shareholders sign off $36m King Honey deal

Me Today shareholders have approved the $36m purchase of King Honey with an overwhelming 99.99% vote in favour.


Genesis Private Equity deepens roots in hort sector with new investments
24 Jun 2021   /

Genesis Private Equity deepens roots in hort sector with new investments

A South Island private equity firm is looking for more horticulture investments after finalising and funding a two-part deal which sees it become a major supplier and IP owner in New Zealand’s fruit tree market


SeaDragon secures $500k loan note
21 Jun 2021  

SeaDragon secures $500k loan note

SeaDragon has restructured its borrowings from majority shareholder Pescado securing $500k via a mandatory convertible loan note.


T&G signs off 6c dividend
21 Jun 2021  

T&G signs off 6c dividend

The board of global fresh produce company, T&G Global, has approved a fully imputed final dividend of 6 cents a share for the 2020 financial year.


Moana NZ upbeat despite ‘significant headwinds’ for Sealord
17 Jun 2021  

Moana NZ upbeat despite ‘significant headwinds’ for Sealord

The fisheries company expects to come in ahead of $26m full year profit guidance despite disruption at Sealord.


Food investor Rangatira back in the black
16 Jun 2021  

Food investor Rangatira back in the black

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’s Sacred Hill for sale
15 Jun 2021   /

Hawke’s Bay’s Sacred Hill for sale

Hawke’s Bay winery Sacred Hill has been placed on the market by its receivers.


Sanford CFO resigns
11 Jun 2021  

Sanford CFO resigns

Katherine Turner is to leave the seafood company in September after three years in the role.


Me Today opens $3.75m retail offer
11 Jun 2021  

Me Today opens $3.75m retail offer

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.


$30m and counting – Christchurch PE firm makes debut food investment
10 Jun 2021   /

$30m and counting – Christchurch PE firm makes debut food investment

South Island Office invests $30m in its first food acquisition and says there are more deals in the pipeline.


Goodman Fielder launches new green goals, targets 2040 for net zero emissions
4 Jun 2021  

Goodman Fielder launches new green goals, targets 2040 for net zero emissions

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.


Fonterra restructure feedback “diverse”
4 Jun 2021  

Fonterra restructure feedback “diverse”

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.


NZ King Salmon warns of “problematic” H1
3 Jun 2021  

NZ King Salmon warns of “problematic” H1

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 gets $10m of wholesale support
3 Jun 2021   /

Me Today gets $10m of wholesale support

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.


Covid pushes Cooks Global Foods further into the red
2 Jun 2021  

Covid pushes Cooks Global Foods further into the red

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.


Me Today adds King Honey with $36m deal
1 Jun 2021   /

Me Today adds King Honey with $36m deal

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.


Two directors for PharmaZen
31 May 2021  

Two directors for PharmaZen

Christchurch biotechnology company PharmaZen, which trades as Waitaki Biosciences, has made two appointments to its board.


Zespri posts record returns as profit leaps 45%
28 May 2021  

Zespri posts record returns as profit leaps 45%

The kiwifruit giant said it delivered record per tray returns across all categories in the 2020/2021 season.


Blis stays in the black despite “significant challenges”
27 May 2021  

Blis stays in the black despite “significant challenges”

Blis delivers earnings of $1m – at the lower end of its guidance – in its annual results.


Fonterra to contribute $12bn to economy with record milk price forecast – CEO
26 May 2021  

Fonterra to contribute $12bn to economy with record milk price forecast – CEO

Fonterra will contribute $12bn to the New Zealand economy in the next season, says the co-op’s chief executive, Miles Hurrell.


JLG raises $4.1m from rights issue
26 May 2021  

JLG raises $4.1m from rights issue

JLG has raised more than $4m in a rights offer launched to part-fund its $17m acquisition of supplement provider About Health.


Synlait’s outlook sours with up to $30m loss forecast
24 May 2021  

Synlait’s outlook sours with up to $30m loss forecast

The dairy company now forecasts a full year loss of between $20m – $30m in 2021.


Comvita leadership takes up $2.3m in shares
24 May 2021   /

Comvita leadership takes up $2.3m in shares

Eight senior staffers have accessed Comvita’s new share purchase and loan scheme which has seen the company grant loans totalling $2.28m .


My Food Bag delivers on FY21 expectations
21 May 2021  

My Food Bag delivers on FY21 expectations

Meal kit company posts 24% revenue rise and assures investors it is positioned to deliver on IPO expectations.


Oatly IPO froths as share price jumps on debut
21 May 2021   /

Oatly IPO froths as share price jumps on debut

The Swedish oat milk company has become the latest plant-based IPO sensation in the US.


Sanford subdued as Covid continues to bite
21 May 2021  

Sanford subdued as Covid continues to bite

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.


Proof is in the pudding – My Food Bag to deliver maiden NZX results
20 May 2021  

Proof is in the pudding – My Food Bag to deliver maiden NZX results

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.


Receivers appointed to Villa Maria owner
19 May 2021   /

Receivers appointed to Villa Maria owner

The company which owns well-known wine business Villa Maria has been placed into receivership.


Speirs Group refinances $2.5m shares
18 May 2021  

Speirs Group refinances $2.5m shares

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.


Synlait scrambles after third exec resigns
17 May 2021   /

Synlait scrambles after third exec resigns

CFO’s departure follows that of chief executive Leon Clement and director of operations Mark Toomey.


“The world’s our oyster” – Natural Pet Food’s Neil Hinton on KKR deal
14 May 2021   /

“The world’s our oyster” – Natural Pet Food’s Neil Hinton on KKR deal

The CEO says global investor KKR will accelerate the premium pet food firm’s international expansion.


Sanford appoints Tauranga port CEO to board
13 May 2021   /

Sanford appoints Tauranga port CEO to board

New Zealand seafood company Sanford has appointed Mark Cairns as its newest board member.


A bad day for A2 Milk
11 May 2021  

A bad day for A2 Milk

The former darling of the NZX was forced to slash its revenue forecasts and write down the value of its assets.


Woolworths sets demerger date with drinks division
11 May 2021  

Woolworths sets demerger date with drinks division

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.


Ōpōtiki rolls out welcome mat for OPAC
11 May 2021   /

Ōpōtiki rolls out welcome mat for OPAC

Seeka has been officially welcomed to Ōpōtiki to celebrate its purchase of Ōpōtiki Packing and Cool Storage.


Arnott’s bags NZ cracker firm 180 Degrees
7 May 2021   /

Arnott’s bags NZ cracker firm 180 Degrees

The deal catapults Australian biscuit giant Arnott’s into NZ’s premium cracker category.


Fonterra moots end of listed fund
6 May 2021  

Fonterra moots end of listed fund

Preferred option for capital structure review would dismantle or cap fund that gives outside investors access to co-op.


Fonterra trading halt, capital structure announcement pending
6 May 2021  

Fonterra trading halt, capital structure announcement pending

Fonterra yesterday went into a trading halt ahead of an announcement about its capital structure, expected this morning.


JLG’s $4.5m rights issue opens
6 May 2021  

JLG’s $4.5m rights issue opens

The offer is priced at a 27.1% discount.


Seeka gets $59m OPAC deal over the line
5 May 2021   /

Seeka gets $59m OPAC deal over the line

A certificate of amalgamation is imminent, formalising the kiwifruit specialists’ deal.


King Salmon bets on open ocean farm for $200m boost
4 May 2021  

King Salmon bets on open ocean farm for $200m boost

Open ocean farm first could be followed by other developments off the South Island’s east coast.


Zeffer takes off with Air New Zealand deal
3 May 2021   /

Zeffer takes off with Air New Zealand deal

The Hawke’s Bay cider company has partnered with the airline to become the exclusive cider on all flights.


“The time is right” – Michael Allpress sells coffee company to Asahi
3 May 2021   /

“The time is right” – Michael Allpress sells coffee company to Asahi

The Japanese drinks giant says it’s impressed by the coffee maker’s premium brand and the two firms are “a great fit”.


JLG completes $17m About Health acquisition
3 May 2021  

JLG completes $17m About Health acquisition

Tony Falkenstein’s Just Life Group says it completed its purchase of About Health on Friday.


Scales pays 9.5c final dividend
3 May 2021  

Scales pays 9.5c final dividend

Agribusiness Scales Corporation has declared a fully imputed final cash dividend of 9.5c a share for the 2020 financial year.


New T&G Envy orchard gets go-ahead
30 Apr 2021  

New T&G Envy orchard gets go-ahead

OIO approves T&G Global purchase of an 11-hectare Hawke’s Bay site to grow more Envy apples.


Synlait tightens emissions targets
30 Apr 2021   /

Synlait tightens emissions targets

Synlait Milk has reset its 2018 inaugural emissions reduction targets.


Food innovators make TIME’s top 100 most influential companies
29 Apr 2021  

Food innovators make TIME’s top 100 most influential companies

Relative newcomers rub shoulder with FMCG stalwarts in the inaugural rankings.


DB brews up new 2030 sustainability targets
28 Apr 2021  

DB brews up new 2030 sustainability targets

The beer producer sets itself new sustainability targets as it builds on its ambition to halve its emissions by 2030.


Blis Technologies shakes up Aussie sales strategy
28 Apr 2021  

Blis Technologies shakes up Aussie sales strategy

New approach in Australia means ramping up online sales and securing a new distributor.


From skylights to supplements: Falkenstein’s JLG in $17m bid for About Health
27 Apr 2021   /

From skylights to supplements: Falkenstein’s JLG in $17m bid for About Health

Just Life Group is investing $17m to buy NZ supplement provider About Health.


PharmaZen Q1 sales strangled by expansion plan delays
23 Apr 2021   /

PharmaZen Q1 sales strangled by expansion plan delays

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 resumes USX trading
23 Apr 2021  

Zespri resumes USX trading

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 »


Oatly maps growth as it preps US IPO
22 Apr 2021   /

Oatly maps growth as it preps US IPO

The phenomenal rise of the Swedish oatmilk juggernaut is detailed ahead of a potential $10bn listing on the NYSE.


KitKat to go carbon neutral by 2025
22 Apr 2021   /

KitKat to go carbon neutral by 2025

Nestle has pledged that its popular chocolate brand, KitKat, will become carbon neutral by 2025.


Zespri values 2021 kiwifruit licence at up to $435m
22 Apr 2021  

Zespri values 2021 kiwifruit licence at up to $435m

The co-op says the preliminary result compared to last year’s range of $300m-$305m.


Cool weather sees Delegat 2021 harvest drop 2%
22 Apr 2021  

Cool weather sees Delegat 2021 harvest drop 2%

The group says the vintage would deliver “excellent quality wines” for its brands.


Seeka shareholders back $60m OPAC takeover
20 Apr 2021   /

Seeka shareholders back $60m OPAC takeover

Grower support and banking thresholds are the only hurdles remaining.


Q&A with Frucor Suntory boss Darren Fullerton
20 Apr 2021  

Q&A with Frucor Suntory boss Darren Fullerton

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.


MWE revenue warning after poor harvest
19 Apr 2021   /

MWE revenue warning after poor harvest

A poor harvest is set to put a dent in Marlborough Wine Estates’ performance this year.


Seeka clears first hurdle in OPAC acquisition
15 Apr 2021  

Seeka clears first hurdle in OPAC acquisition

Seeka is a step closer to buying kiwifruit rival Ōpōtiki Packing and Coolstorage.


My Food Bag sets first listed annual results release date
15 Apr 2021  

My Food Bag sets first listed annual results release date

It will be the firm’s first publicly available results since its listing.


Comvita upgrades guidance after strong Q3
14 Apr 2021   /

Comvita upgrades guidance after strong Q3

Manuka honey company Comvita has revised its earnings forecast up on the back of strong growth in China and the US.


Synlait, A2 sell-off follows Clement resignation
13 Apr 2021   /

Synlait, A2 sell-off follows Clement resignation

The dairy companies saw share prices slip following news that Synlait’s boss is leaving.


Seeka makes case for $60m OPAC acquisition
12 Apr 2021   /

Seeka makes case for $60m OPAC acquisition

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.


Ice-cream maker scoops Domino’s deal
12 Apr 2021  

Ice-cream maker scoops Domino’s 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.


Which F&B tycoons made the 2021 Forbes Rich List?
8 Apr 2021  

Which F&B tycoons made the 2021 Forbes Rich List?

From spring water chiefs to supermarket dynasties – the annual rankings are a smorgasboard of F&B billionaires.


Zespri in trading halt
8 Apr 2021  

Zespri in trading halt

Zespri has been placed in a trading halt on the USX to allow the finalisation of the 2021 Gold3 and Zespri Red tender process.


PharmaZen profit up 30%, Covid delays hit factory development
6 Apr 2021  

PharmaZen profit up 30%, Covid delays hit factory development

Annual profit rises to $5.2m, but Covid delays push out development of a new Rolleston factory.


Fonterra completes $552m sale of China farms
6 Apr 2021  

Fonterra completes $552m sale of China farms

Fonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.


$4m Pescado loan converts into SeaDragon shares
6 Apr 2021  

$4m Pescado loan converts into SeaDragon shares

Omega fish oils refiner SeaDragon has issued Pescado Holdings limited with 20 million shares for $4m of loan notes from the shareholder.


Spiers receives $229k windfall, reschedules Rosa payments
6 Apr 2021  

Spiers receives $229k windfall, reschedules Rosa payments

Spiers Group says it received an unexpected cash dividend of $229,127 from its investment in Equipment Leasing and Finance Holdings Limited.


Silver Fern Farms profit steady despite pandemic
1 Apr 2021  

Silver Fern Farms profit steady despite pandemic

The meat company saw net profit dip to $65m, skirting any deep impact from the pandemic.


NZ King Salmon weighed down by Covid
1 Apr 2021  

NZ King Salmon weighed down by Covid

The salmon farmer posts a seven month net loss of $7m, as it changes its reporting date.


Nestlé calls time on Auckland Allen’s production, 45 jobs to go
30 Mar 2021   /

Nestlé calls time on Auckland Allen’s production, 45 jobs to go

The food giant plans to relocate its Wiri confectionery manufacturing to Australia.


Synlait interim profit plunges 76%, outlook remains uncertain
29 Mar 2021  

Synlait interim profit plunges 76%, outlook remains uncertain

Significant Covid-19 induced uncertainty and volatility will continue, says the milk powder producer.


“Business as usual” despite Villa Maria speculation – Terra Vitae
29 Mar 2021   /

“Business as usual” despite Villa Maria speculation – Terra Vitae

Terra Vitae Vineyards is reassuring shareholders not to worry about speculation Villa Maria Estate Limited may be bought.


Seeka lines up $60m OPAC deal
26 Mar 2021   /

Seeka lines up $60m OPAC deal

The Bay of Plenty-based company is looking to expand its footprint in the kiwifruit sector.


How do Frucor’s 2030 sustainability targets measure up?
26 Mar 2021  

How do Frucor’s 2030 sustainability targets measure up?

Reducing waste, carbon emissions, water usage, sugar and non-recyclable packaging form the backbone of Frucor Suntory’s ten-year sustainability plans.


Batchwell cracks open $1m capital raise
25 Mar 2021   /

Batchwell cracks open $1m capital raise

An aggressive growth strategy underpins the kombucha maker’s forecast 325% jump in annual revenue.


Scales in the frame for $200m Villa Maria purchase
24 Mar 2021   /

Scales in the frame for $200m Villa Maria purchase

The agribusiness confirms it is in the running to buy Villa Maria in what would be its first foray into wine.


Zespri vote looms as counterfeit kiwifruit plantings grow
24 Mar 2021   /

Zespri vote looms as counterfeit kiwifruit plantings grow

Zespri is progressing its plan to move against the unlawful growing of kiwifruit in China as illegal plantings increase.


Synlait loses ops director back to Australia
23 Mar 2021   /

Synlait loses ops director back to Australia

Mark Toomey has resigned from the specialist diary company after just over a year in the role.


Huge losses ahead for apple and pear sector – NZAPI
23 Mar 2021   /

Huge losses ahead for apple and pear sector – NZAPI

Huge losses are forecast for the New Zealand apple and pear industry, according to New Zealand Apples and Pears Inc.


Sanford warns continuing Covid storm will hit interims
18 Mar 2021  

Sanford warns continuing Covid storm will hit interims

Lower prices and higher costs will hurt performance, says the seafood company.


Fonterra interim profit drops 22%, China divestment continues
17 Mar 2021  

Fonterra interim profit drops 22%, China divestment continues

The co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.


Fonterra farmers survey: New capital structure – yes, outside investors – no
16 Mar 2021  

Fonterra farmers survey: New capital structure – yes, outside investors – no

The co-op’s shareholders have indicated support for an overhaul of the dairy giant’s structure.


Savor expands hospo footprint, forgets Moa
11 Mar 2021   /

Savor expands hospo footprint, forgets Moa

Moa’s former hospitality division is adding three Auckland restaurants to its stable.


MWE falls short of $2m fundraising target
10 Mar 2021   /

MWE falls short of $2m fundraising target

But the company says it is “delighted” to raise $1.34m, despite a deeply discounted SPP.


Ngāi Tahu takes a bite of Rockit, Punchbowl ups stake
9 Mar 2021   /

Ngāi Tahu takes a bite of Rockit, Punchbowl ups stake

Hawke’s Bay apple producer Rockit Global completes a capital raise bringing in new investor Ngâi Tahu Holdings.


My Food Bag stumbles on NZX debut

My Food Bag stumbles on NZX debut

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 under new ownership
3 Mar 2021   /

Trinity Hill under new ownership

Trinity Hill has new ownership after being purchased outright by four local investors.


Daigou disruption sees A2 Milk profit, shares tumble
1 Mar 2021  

Daigou disruption sees A2 Milk profit, shares tumble

The company suffered a 35% drop in interim profit in what it described as a “challenging” first half year.


Seeka doubles profit, pays down debt
1 Mar 2021   /

Seeka doubles profit, pays down debt

The Te Puke-based produce handler more than doubled its annual profit in FY20.


Comvita turnaround puts it back in the black
26 Feb 2021   /

Comvita turnaround puts it back in the black

The honey company took “radical” steps to recover from a $13m interim loss.


Scales sees profit squeezed after “challenging, disruptive” FY20
26 Feb 2021  

Scales sees profit squeezed after “challenging, disruptive” FY20

A “challenging and disruptive year” pushed revenue and profit down.


Seeka announces 12 cent dividend
26 Feb 2021   /

Seeka announces 12 cent dividend

Seeka has announced a 12 cent dividend, payable on 30 March 2021.


Fonterra narrows 2021 earnings guidance
26 Feb 2021   /

Fonterra narrows 2021 earnings guidance

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.


Delegat toasts record half year
25 Feb 2021   /

Delegat toasts record half year

Strong global sales growth saw the winemaker’s interim profit leap 31% in a record-breaking run to the end of 2020.


Covid contingencies push NZ King Salmon into the red
25 Feb 2021  

Covid contingencies push NZ King Salmon into the red

Increased airfreight costs, discounting and lockdowns all ate into the salmon farmer’s profit.


NZ bright spot amidst global falls for Foley Wines
25 Feb 2021   /

NZ bright spot amidst global falls for Foley Wines

US billionaire Bill Foley’s Kiwi company suffers sales falls in its largest overseas markets.


MWE reduces max stake in capital raise
24 Feb 2021   /

MWE reduces max stake in capital raise

The wine company says it is looking to raise the new funding to progress growth opportunities in NZ.


My Food Bag says interest “strong” after institutional  bookbuild completes
23 Feb 2021   /

My Food Bag says interest “strong” after institutional bookbuild completes

The company is on track to dual list on 5 March with a post-IPO market cap of $449m.


F&B listed companies to open their books
23 Feb 2021  

F&B listed companies to open their books

NZ King Salmon, Delegat Group, and Comvita are this week reporting their six month interim financial results.


Moa sells loss-making craft beer business for $1.9m
22 Feb 2021   /

Moa sells loss-making craft beer business for $1.9m

The company is jettisoning its eponymous brewing business to focus on its hospitality division under the new name Savor.


Comvita partners with UK’s THG to accelerate revenue
18 Feb 2021   /

Comvita partners with UK’s THG to accelerate revenue

Comvita has goal to grow its digital sales to 50% of the total group by 2025.


Miraka board names Watson as new boss
18 Dec 2020  

Miraka board names Watson as new boss

The announcement follows Richard Wyeth’s departure in October.


MWE eyes UK, US expansion
18 Dec 2020  

MWE eyes UK, US expansion

It comes after the wine firm had its first-ever profitable year as an NZX listed company.


A2 Milk in trading halt as earnings guidance revised
17 Dec 2020  

A2 Milk in trading halt as earnings guidance revised

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 »


Sanford rethinks $20m Blenheim investment in cost-cutting drive
17 Dec 2020  

Sanford rethinks $20m Blenheim investment in cost-cutting drive

The seafood firm is on a mission to rebuild profitability.


Seeka to pay out 12c special dividend
17 Dec 2020  

Seeka to pay out 12c special dividend

The Te Puke-based company said the dividend would be paid on 27 January 2021 to all holders of ordinary shares.


SeaDragon hooks new investor as Comvita exits
15 Dec 2020  

SeaDragon hooks new investor as Comvita exits

A US-based family buys into the fish oil company in an off-market deal.


Rangatira reports “best ever” sales for Mrs Higgins
11 Dec 2020  

Rangatira reports “best ever” sales for Mrs Higgins

The investor wants to bolster the cookie maker through acquisitions in what it calls a “fragmented industry”.


Seeka signs off $27m Australian deal, lifts guidance
10 Dec 2020   /

Seeka signs off $27m Australian deal, lifts guidance

The kiwifruit exporter gets the go-ahead for a sale and leaseback deal, unlocking more profit for the year.


Steady as she goes at diversified Scales
10 Dec 2020  

Steady as she goes at diversified Scales

Diversified agribusiness group will pay 9.5c interim dividend and affirms previous guidance.


Fonterra lifts milk price  following China rebound
7 Dec 2020  

Fonterra lifts milk price following China rebound

Strong demand for NZ dairy has seen the co-op lift its milk price forecast and report Q1 earnings of $250m.


Tourism giant exits F&B sector with brewery sale
3 Dec 2020  

Tourism giant exits F&B sector with brewery sale

Queenstown-based Wayfare is selling its brewing interests to local restauranteurs.


Moa reports interim loss, suffers 45% revenue fall to $10m
1 Dec 2020   /

Moa reports interim loss, suffers 45% revenue fall to $10m

Moa Group Limited has reported an after tax loss of $415,000 for the six months to 30 September 2020.


Synlait completes $200m raise
1 Dec 2020  

Synlait completes $200m raise

The dairy company successfully raised the money after closing an oversubscribed $20m share purchase plan.


T&G Global approves 6c interim dividend
27 Nov 2020  

T&G Global approves 6c interim dividend

A date has been set by the group, in an NZX announcement made on Thursday.


‘Super premium’ pays dividends for Delegat
26 Nov 2020   /

‘Super premium’ pays dividends for Delegat

Online growth and investment in technology and sales teams also helped the winemaker to a record year.


Synlait bets on diversification to build value
26 Nov 2020   /

Synlait bets on diversification to build value

Diversifying its product ranges, customers and target markets has created a more sustainable business, says Synlait chief executive Leon Clement.


Comvita Singles Day revenue jumps 17%
26 Nov 2020  

Comvita Singles Day revenue jumps 17%

Mānuka honey company Comvita says it reported strong sales in the online shopping event.


A2 Milk maintains guidance, says 2020 has ‘tested us’
19 Nov 2020  

A2 Milk maintains guidance, says 2020 has ‘tested us’

The dairy company says it expects an uptick in activity in the second half of FY21 despite continuing uncertainty.


$180m Synlait placement oversubscribed
12 Nov 2020  

$180m Synlait placement oversubscribed

Synlait Milk has added $180m to its coffers after successfully completing a discounted share placing.


Synlait targets $200m in equity raise
11 Nov 2020  

Synlait targets $200m in equity raise

The company will use the money to complete its investment strategy, pay down debt, and strengthen its balance sheet.


Synlait share trading stops for expected capital raise
10 Nov 2020  

Synlait share trading stops for expected capital raise

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 sets out stall to combat Covid uncertainty
10 Nov 2020  

Fonterra sets out stall to combat Covid uncertainty

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 eyes land sale, capital raise to boost growth
9 Nov 2020   /

Villa Maria eyes land sale, capital raise to boost growth

Villa Maria Estate is selling off 31 hectares of land in Māngere to raise funds for global expansion.


Sanford warns profit could halve as Covid bites
6 Nov 2020  

Sanford warns profit could halve as Covid bites

The fishing company says it has suffered falling prices, slow sales and poor catches.


Synlait reveals new deal with mystery multinational customer
6 Nov 2020  

Synlait reveals new deal with mystery multinational customer

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.


SunGold to drive Zespri’s 10-year growth
5 Nov 2020  

SunGold to drive Zespri’s 10-year growth

It comes as demand for the variety across the globe remains strong.


Fonterra sustainability: Earnings up but environment work lags
4 Nov 2020  

Fonterra sustainability: Earnings up but environment work lags

The dairy co-op returns to sustainable earnings as it continues to tackle environmental challenges.


NZ King Salmon making Covid comeback
4 Nov 2020  

NZ King Salmon making Covid comeback

During the pandemic the company saw a “rapid decline” in sales.


Zespri, Synlait finalists in Deloitte Top 200
2 Nov 2020   /

Zespri, Synlait finalists in Deloitte Top 200

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 »


Terra Vitae rebounds from ‘disappointing’ FY19
29 Oct 2020  

Terra Vitae rebounds from ‘disappointing’ FY19

Last year its vineyards produced 17% below the winemaker’s budgeted target.


Synlait targets consolidation ahead of growth, board chair to exit
28 Oct 2020  

Synlait targets consolidation ahead of growth, board chair to exit

Synlait Milk has set the course for a year of consolidation following a period of substantial investment.


Comvita reports ‘strong’ revenue growth, despite loss
27 Oct 2020   /

Comvita reports ‘strong’ revenue growth, despite loss

Comvita has reported “strong” results in its first quarter, posting double-digit revenue growth.


Marlborough Wine Estates posts first profitable listed year
21 Oct 2020  

Marlborough Wine Estates posts first profitable listed year

Marlborough Wine Estates has posted its first-ever profitable year as an NZX listed company.


Talley’s buys Dairyworks’ Deep South ice cream
20 Oct 2020  

Talley’s buys Dairyworks’ Deep South ice cream

Dairyworks has sold its Deep South ice cream brand to seafood giant Talley’s for an undisclosed sum.


SeaDragon issues $2.5m in shares to Pescado
16 Oct 2020  

SeaDragon issues $2.5m in shares to Pescado

Over 83 million shares were distributed at $0.03c per share, according to an announcement from the Omega fish oil producer.


ASX-listed HVN gets OIO green light for dairy factory
14 Oct 2020   /

ASX-listed HVN gets OIO green light for dairy factory

Happy Valley Nutrition has secured Overseas Investment Office approval to develop a dairy factory in the Waikato.


Palliser Estate reports ‘higher than expected’ FY20 results
14 Oct 2020  

Palliser Estate reports ‘higher than expected’ FY20 results

Palliser Estate Wines says its FY20 results were better than expected, despite numerous Covid-19 impacts.


Fonterra to sell China farms for $555m
12 Oct 2020  

Fonterra to sell China farms for $555m

Fonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.


Fonterra posts $1.3bn turnaround, reports $659m profit
18 Sep 2020  

Fonterra posts $1.3bn turnaround, reports $659m profit

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.


Gallo Winery buys Nobilo for $202m
30 Jun 2020   /

Gallo Winery buys Nobilo for $202m

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 »


Delegat Group eyes bigger harvest
25 Jun 2020  

Delegat Group eyes bigger harvest

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 »