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  News   Covid-19   Opinion
Tuesday 12 December 2023

Corporate & Results

NZ outperforms wider Domino’s downturn
11 Dec 2023  

NZ outperforms wider Domino’s downturn

The NZ division of the global pizza franchise manages to skirt the rising costs and falling demand seen across the group.


Scales bullish on 2024, expects to double profit
8 Dec 2023  

Scales bullish on 2024, expects to double profit

The company is forecasting profit of up to $35m in 2024 – double that of this year’s guidance – as it leaves the impacts of Cyclone Gabrielle behind and leverages the global pet food boom.


Fonterra upgrades FY earnings after strong Q1
7 Dec 2023  

Fonterra upgrades FY earnings after strong Q1

Fonterra’s first quarter profit after tax is up 85% on the same time last year as the dairy exporter banks better margins across its portfolio.


Woolworths NZ’s halved profit due to increased payments to parent – Edwards
6 Dec 2023  

Woolworths NZ’s halved profit due to increased payments to parent – Edwards

Revenue and gross profit were up and so were payments to Australian owner Woolworths Group.


Rangatira keen on kiwifruit, sanguine on meat, seeks to diversify lobster markets
5 Dec 2023  

Rangatira keen on kiwifruit, sanguine on meat, seeks to diversify lobster markets

It’s a mixed bag from the investor’s food interests, with Rangatira saying in its interims that it’s committing more to kiwifruit, lobster’s “strong”, but it’s been tough for red meat.


Loss-making Hellers banks on Australia, debt restructure
5 Dec 2023  

Loss-making Hellers banks on Australia, debt restructure

The company expects an improved performance after a restructure of its Australian business and debt pile.


Beer distributor latest casualty of craft doldrums
5 Dec 2023   /

Beer distributor latest casualty of craft doldrums

Craft beer importer and distributor Beertique NZ has gone into liquidation to become the latest casualty in the sector, which is suffering from rising costs and falling demand.


Woolworths NZ profit halved…
4 Dec 2023  

Woolworths NZ profit halved…

The Countdown owner’s bottom line comes under increasing pressure, with nearly $50m added to its finance bill alone.


…while in Australia, Woolworths & Coles face inquiry into prices, profits
4 Dec 2023   /

…while in Australia, Woolworths & Coles face inquiry into prices, profits

Australia’s major supermarket groups are to come under scrutiny in a senate probe of their pricing and profits.


Cooks Coffee take Triple Two balance sheet hit
1 Dec 2023  

Cooks Coffee take Triple Two balance sheet hit

Cooks Coffee has been pushed into the red in the half year after taking a $4.8m impairment against the investment made into its shuttered Triple Two brand.


Synlait increases forecast milk price
29 Nov 2023  

Synlait increases forecast milk price

Synlait Milk has increased its forecast base milk price forecast for the 2023 / 2024 season to $7.25/kgMS from $7.00/kgMS.


TradeWindow cutting headcount by 40%, narrows loss
29 Nov 2023  

TradeWindow cutting headcount by 40%, narrows loss

Supply chain software business, TradeWindow, is opting to reduce its headcount by 40% to 48 people as the early-stage growth company looking for sustainable financial footing.


The purchase price for Dad’s Pies revealed
28 Nov 2023   /

The purchase price for Dad’s Pies revealed

The baking behemoth that owns bread brand Tip Top and Big Ben created a top three category competitor when it acquired rival Dad’s Pies.


Savor narrows interim loss as revenue jumps 40%
28 Nov 2023  

Savor narrows interim loss as revenue jumps 40%

Savor has reported a net loss after tax of $421,000 for the six months to September 2023, up 80.3% on the loss it reported for the same period last year.


Comvita share price hit after profit warning
28 Nov 2023  

Comvita share price hit after profit warning

Mānuka honey specialist Comvita saw its share price dive more than 13% following an earnings downgrade.


Comvita performance falling short on China, US slowdown
27 Nov 2023  

Comvita performance falling short on China, US slowdown

The mānuka honey specialist says it will struggle to deliver its promised double-digit earnings growth in its 2024 financial year as demand in its core China and US markets softens.


Soft wine sales drag AFC
27 Nov 2023   /

Soft wine sales drag AFC

Diversified wine business AFC Group says a 27% drop in revenue to $489,000 in its interim results was mainly due to a decline in overseas wine sales.


My Food Bag interim profit falls 57%, dividend scrapped
23 Nov 2023  

My Food Bag interim profit falls 57%, dividend scrapped

The latest results make for sober reading, with the meal kit company eating cost increases to grow customer numbers.


Blockbuster year for Bidfood
22 Nov 2023  

Blockbuster year for Bidfood

Its latest results show a bumper year for the global foodservice distributor in New Zealand, complete with a big uplift in its bottom-line performance.


Inghams posts plumper NZ profit despite cost of sales jumping $50m
20 Nov 2023  

Inghams posts plumper NZ profit despite cost of sales jumping $50m

Poultry group Inghams had an improved year in New Zealand contributing to its Australasian turnaround, with both plumper revenue and profit in 2023.


Speirs adjusting prices, cutting products – chair
20 Nov 2023  

Speirs adjusting prices, cutting products – chair

Speirs Group’s food division is moving on prices and products to help improve profitability, says executive chairman Lee Simpson.


Ebos extends trading halt
20 Nov 2023  

Ebos extends trading halt

Ebos has been granted a trading halt extension until market open on Tuesday, 21 November 2023.


Uncertain time in wine – Foley CEO
17 Nov 2023   /

Uncertain time in wine – Foley CEO

Foley Wines chief executive Mark Turnbull says the company has come off the back of a record year to face uncertain trading conditions.


Alliance plunges to $70m loss
16 Nov 2023  

Alliance plunges to $70m loss

Meat company Alliance Group plunged to an after-tax loss of $70m loss in its results to 30 September 2023 as demand and prices softened.


Ebos trading halt after deal link to pet group Greencross
16 Nov 2023   /

Ebos trading halt after deal link to pet group Greencross

Dual-listed Ebos Group is in NZX and ASX trading halts following it being linked to the purchase of TPG Capital-backed pet and vet group Greencross.


A2 Milk’s 2024 earnings on track
16 Nov 2023  

A2 Milk’s 2024 earnings on track

A2 Milk is expecting its earnings to stay on track for 2024 and would still reach its sales target of $2bn by 2026, despite deterioration in the Chinese market, according to managing director David Bortolussi.


Delegat downgrades guidance
16 Nov 2023   /

Delegat downgrades guidance

Wine company Delegate Group is now expecting slower sales than last year, forecasting case sales of 3,614,000 cases for the 2024 year, down 1.7% on last year and 5.5% on previous guidance.


F&B supports “consistent” Q3 M&A – PwC
15 Nov 2023   /

F&B supports “consistent” Q3 M&A – PwC

Food and beverage deals help lift overall activity to be “better than expected” for the period.


Burger Fuel sets date for $4m payout vote
15 Nov 2023  

Burger Fuel sets date for $4m payout vote

Burger Fuel Group will hold a special meeting of shareholders on Thursday 14 December 2023 to vote on its proposed return of capital.


Sanford profit subdued
14 Nov 2023  

Sanford profit subdued

The seafood company delivers lower profit on its best revenue in five years, and bats away questions over the abrupt departure of two directors.


Sealord gets green light for Independent Fisheries deal
14 Nov 2023   /

Sealord gets green light for Independent Fisheries deal

ComCom says the deal, which turns Sealord into NZ’s largest seafood company, is unlikely to substantially lessen competition.


Q1 grocery sales up 8.2% at The Warehouse
14 Nov 2023  

Q1 grocery sales up 8.2% at The Warehouse

Grocery sales at The Warehouse were up 8.2% for the 13 weeks ending 29 October 2023, compared to its first quarter last year, bucking a trend of falling sales at the red sheds retailer.


Scott Technology sale scotched – for now
13 Nov 2023   /

Scott Technology sale scotched – for now

Scott Technology’s ownership structure is staying as is – for the time being.


Sanford director to retire
13 Nov 2023  

Sanford director to retire

Sanford’s board has advises that Fiona Mackenzie will not seek re-election as an independent non-executive director at the seafood company’s upcoming annual meeting.


Synlait’s Dairyworks sale sluggish
10 Nov 2023   /

Synlait’s Dairyworks sale sluggish

Indicative bids are in for Synlait’s consumer dairy business, however, they are reportedly short of the expected price-tag of around $130m.


TradeWindow gets debt waiver
10 Nov 2023  

TradeWindow gets debt waiver

Supply chain software business, TradeWindow, said its lender ASB Bank has extended the interim waiver on a lending covenant breached because of the nChain deal being delayed.


Bidders line up for Sara Lee
9 Nov 2023   /

Bidders line up for Sara Lee

The 52-year-old business in Australia owes about A$50m – A$55m.


Mainfreight H1 profit falls 42% as trading normalises…
9 Nov 2023  

Mainfreight H1 profit falls 42% as trading normalises…

The transport and logistics company saw net profit for the period to 30 September drop 42.6% to $124.55m, reflecting a downturn in all its markets and across all its operations.


Two become one: Foodstuffs north and south merger mooted
7 Nov 2023  

Two become one: Foodstuffs north and south merger mooted

The two Foodstuffs co-ops are looking to merge, creating a $13bn grocery behemoth led by current FSNI boss Chris Quin.


…as iwi’s seafood business offsets bad buzz from honey in FY23 results
7 Nov 2023   /

…as iwi’s seafood business offsets bad buzz from honey in FY23 results

Ngāi Tahu’s seafood business delivered an improved FY23 result despite the turbulent economic backdrop which contributed in-part to the poor year at its shrinking honey operations.


GSH payout slated for early December
7 Nov 2023  

GSH payout slated for early December

Good Spirits Hospitality is set to make its $600,000 shareholder payout on 5 December 2023.


MHM gets $151m offer from US-based Bettcher Industries
3 Nov 2023   /

MHM gets $151m offer from US-based Bettcher Industries

Listed food industry supplier MHM Automation has received a $151.4m takeover offer from US-based Bettcher Industries priced at a more than 80% premium to its shareprice.


Cooks Coffee appoints Triple Two liquidators
3 Nov 2023  

Cooks Coffee appoints Triple Two liquidators

Cooks Coffee is to liquidate its Triple Two coffee franchise business, according to a note on UK’s Companies House which confirmed a voluntary liquidator had been appointed.


Fonterra, Nestlé complete DPA Brazil sale
2 Nov 2023   /

Fonterra, Nestlé complete DPA Brazil sale

Fonterra has completed the sale of its Nestlé’s Dairy Partners Americas Brazil joint venture to French dairy company Lactalis.


TradeWindow to make more cuts after $11m deal stalls
2 Nov 2023  

TradeWindow to make more cuts after $11m deal stalls

TradeWindow says it is restructuring following the delay of its $11.1m deal with nChain to settle.


Fonterra CFO to go after nine months in post
1 Nov 2023   /

Fonterra CFO to go after nine months in post

The dairy co-op says Neil Beaumont is leaving this Friday having only just starting in February.


Westland on track to repeat $1bn revenue
1 Nov 2023  

Westland on track to repeat $1bn revenue

Westland Milk Products says it is on track to match the $1bn of revenue and $39m profit it posted in 2022, despite a sluggish global economy and volatile trading conditions.


GSH going ahead with $600k shareholder payout
1 Nov 2023   /

GSH going ahead with $600k shareholder payout

Good Spirits Hospitality is going ahead with a payout of $600k to its shareholders related to its asset sale, despite it being technically voted down via a conditional resolution last week.


Sanford ACE sale to Moana goes unconditional
31 Oct 2023   /

Sanford ACE sale to Moana goes unconditional

Sanford has confirmed the $125m-plus sale of its inshore fishing business to Moana New Zealand has gone unconditional, and will likely settle today.


Burger Fuel $4m shareholder payout plan detailed
31 Oct 2023  

Burger Fuel $4m shareholder payout plan detailed

Burger Fuel has secured initial terms from the High Court for its proposed return of approximately $4.1m to shareholders.


Burger Fuel founders quids in with $4m shareholder return, GSH shareholders not
27 Oct 2023   /

Burger Fuel founders quids in with $4m shareholder return, GSH shareholders not

Burger Fuel shareholders are in line for a $4m payout related to a proposed tie-up with Subway that never came to pass.


AoFrio downgrades guidance
26 Oct 2023  

AoFrio downgrades guidance

Refrigeration technology business AoFrio has downgraded its full year guidance on the back of global economic uncertainty impacting customers, including the residual effects from global supply chain issues.


TradeWindow still pursuing nChain deal
26 Oct 2023  

TradeWindow still pursuing nChain deal

TradeWindow is still looking for a payment from British technology company nChain after it unexpectedly failed to materialise earlier this month.


Woolworths ekes out sales gain in NZ, warns of challenges
25 Oct 2023   /

Woolworths ekes out sales gain in NZ, warns of challenges

Woolworths Group CEO Brad Banducci says a difficult economic environment and a competitive landscape in NZ will dent its first half results.


Restaurant Brands sales up in Q3
25 Oct 2023  

Restaurant Brands sales up in Q3

Restaurant Brands has reported increasing sales in a third-quarter trading update, but there is no word on how its bottom line is faring following a first half when profit plummeted on rising costs.


Cooks Coffee appoints Triple Two administrators, distances Esquires
25 Oct 2023  

Cooks Coffee appoints Triple Two administrators, distances Esquires

Cooks Coffee has appointed RSM UK Restructuring Advisory as administrators to its Triple Two coffee franchise business.


Me Today in talks with lenders after sales slump
24 Oct 2023   /

Me Today in talks with lenders after sales slump

The honey and VMS company is in talks with its lenders after warning that it is likely to undershoot its sales forecasts – with a capital raise and asset sales still on the table.


Buyer sought for SIO’s Sara Lee after administrators called in
19 Oct 2023   /

Buyer sought for SIO’s Sara Lee after administrators called in

The NZ-owned firm has gone into voluntary administration in Australia, with a sale or restructuring the preferred options for the 53-year-old business.


NZ Coastal Seafoods now solely toll processing in Chch
19 Oct 2023  

NZ Coastal Seafoods now solely toll processing in Chch

New Zealand Coastal Seafoods has completed a restructure of its Christchurch seafood processing facility, to make it solely focused on toll processing for third parties.


Scott Technology revenue profit both up a fifth
18 Oct 2023  

Scott Technology revenue profit both up a fifth

Dunedin’s Scott Technology has posted a 21% jump in group revenue to $268m, in its full year results for the year ended 31 August 2023.


HelloFresh tops NZ meal kit market with $210m in revenue
17 Oct 2023   /

HelloFresh tops NZ meal kit market with $210m in revenue

HelloFresh is performing better than Kiwi meal kit company My Food Bag in New Zealand, according to the German giant’s latest financial results.


Behind the deal with Moana’s Steve Tarrant
11 Oct 2023   /

Behind the deal with Moana’s Steve Tarrant

Moana’s $125m-plus deal with Sanford was brokered in a very different economic environment, so how will the iwi-owned business navigate the current volatility?


Shareholders in Brothers Beer equity injection
10 Oct 2023   /

Shareholders in Brothers Beer equity injection

Shareholders in troubled craft brewer Brothers Beer have agreed to support a restructuring of the group, which will see them make a $1m equity injection.


GSH shareholders to get $600k from sale
10 Oct 2023  

GSH shareholders to get $600k from sale

Good Spirits Hospitality’s lender has approved the distribution of a $600k dividend to shareholders following the sale of the company’s assets.


Supplier price increases, shortages hit profit in “difficult year” at Speirs
9 Oct 2023  

Supplier price increases, shortages hit profit in “difficult year” at Speirs

The salad company’s profit plummets as costs rise and there are supply shortages due to extreme weather.


Terra Vitae profit slips despite bumper harvest
9 Oct 2023   /

Terra Vitae profit slips despite bumper harvest

A bumper harvest did not translate into a bumper profit for grape grower, which nonetheless delivered a solid performance in a year disrupted by Cyclone Gabrielle.


Fonterra raises farmgate forecast
9 Oct 2023  

Fonterra raises farmgate forecast

Fonterra has revised its forecast for the farmgate milk price range, with the midpoint going up 50 cents.


Blue Sky Meats profit falls from 2022 high
6 Oct 2023  

Blue Sky Meats profit falls from 2022 high

Southland processing company Blue Sky Meats has seen its profit normalise after a record 2022, and is banking this year’s substantially lower surplus in order to undertake capital investment.


Ngāi Tahu slims down Oha Honey, looks to Perry Group platform
5 Oct 2023   /

Ngāi Tahu slims down Oha Honey, looks to Perry Group platform

The iwi is shutting down its honey operations in the North Island and will tap into The Mānuka Collective to support its South Island business.


Record revenue for Tatua
5 Oct 2023  

Record revenue for Tatua

Tatua Co-operative Dairy achieved record group income of $537m and earnings available for payout of $225m in the 12 months to July 2023.


Record apple, wine exports stabilise Port Nelson profit
5 Oct 2023   /

Record apple, wine exports stabilise Port Nelson profit

Port Nelson has delivered a net profit after tax result of $7.7m for the year to June 2023, helped by record apple and wine exports.


OIO signs off Ingham’s Bromley Park deal
3 Oct 2023  

OIO signs off Ingham’s Bromley Park deal

The Overseas Investment Office has signed off Australasian poultry group Inghams’ purchase of New Zealand’s Bromley Park Hatcheries.


GSH to delist, deregister after venues sold
3 Oct 2023  

GSH to delist, deregister after venues sold

Good Spirits Hospitality will be no more after it completes the $20.7m sale of its eight operating venues to Brew on Quay.


TradeWindow partner’s missed payment puts debt pile in spotlight
3 Oct 2023  

TradeWindow partner’s missed payment puts debt pile in spotlight

TradeWindow’s debt pile is in the spotlight after an expected payment from British technology company nChain failed to materialise.


Goodbye Kellogg Company, hello Kellanova
2 Oct 2023  

Goodbye Kellogg Company, hello Kellanova

The Kellogg Company’s official split into two separate New York stock exchange-listed businesses, Kellanova and WK Kellogg Co, comes into effect today.


Griffin’s parent’s purchase price for Proper Crisps revealed…
28 Sep 2023   /

Griffin’s parent’s purchase price for Proper Crisps revealed…

How much did Intersnack pay to take full control of the Nelson-based snack company?


“Legislative measures have presented little relief so far” – The Warehouse’s Grayston on grocery
28 Sep 2023   /

“Legislative measures have presented little relief so far” – The Warehouse’s Grayston on grocery

The retailer’s CEO says measures to improve wholesale access in NZ’s $22bn duopoly-dominated grocery sector have not yet helped the red sheds.


How much did Synlait get in Talbot settlement?
26 Sep 2023  

How much did Synlait get in Talbot settlement?

A line in Synlait Milk’s account reveal the amount the dairy firm received after launching an $8.8m lawsuit over its Talbot Forest Cheese Co acquisition.


Cooks Coffee calls in administrators for Triple Two
26 Sep 2023  

Cooks Coffee calls in administrators for Triple Two

After a post-Covid bounce, the UK coffee chain franchise lost momentum, says Cooks Coffee, which is pushing on with its other brand Esquires.


“Extremely challenging year” – Synlait posts $4.3m loss
25 Sep 2023  

“Extremely challenging year” – Synlait posts $4.3m loss

The dairy company has listed a litany of factors that have contributed to its “poor” financial performance.


A closer look: The future of Fonterra’s foodservice and consumer divisions
22 Sep 2023  

A closer look: The future of Fonterra’s foodservice and consumer divisions

CEO Miles Hurrell says a sale of the NZ consumer business is not on the cards, despite a dire year, so what else did he and his CFO have to say about the embattled division?


Record profit at Fonterra, but consumer division smashed with $220m impairments
21 Sep 2023  

Record profit at Fonterra, but consumer division smashed with $220m impairments

Profit rockets 170% to $1.6bn but no thanks to its consumer division, which plunged to a $164m loss on the back of brand write-downs.


NZKS back in the black with $10.6m interim profit
21 Sep 2023  

NZKS back in the black with $10.6m interim profit

Salmon farmer made the most of improved operations and strong demand for salmon in the first half, with a profit of $10.6m – quite the turnaround from last year’s $24.5m interim loss.


Pernod Ricard mulls ANZ wine portfolio sale
20 Sep 2023   /

Pernod Ricard mulls ANZ wine portfolio sale

Global drinks company Pernod Ricard is revisiting a potential sale of its Australian and New Zealand wine brands – a divestment it explored in 2019.


Behind the deal with Sealord’s Doug Paulin
19 Sep 2023  

Behind the deal with Sealord’s Doug Paulin

Sealord’s proposed purchase of Independent Fisheries is the largest seafood deal in NZ in 30 years – how did it come about and what does it mean for the Nelson-headquartered business?


No bounce-back for Synlait shares
19 Sep 2023   /

No bounce-back for Synlait shares

Synlait Milk shares are hovering around $1.19 in trading today, after falling more than 9% to $1.16 at market close yeseterday.


Synlait disputes A2’s right to cancel exclusivity
18 Sep 2023   /

Synlait disputes A2’s right to cancel exclusivity

Synlait Milk is disputing that its major customer, A2 Milk, has the right to cancel its exclusive arrangement after said notice was given on Friday.


Sealord buying Independent Fisheries
15 Sep 2023   /

Sealord buying Independent Fisheries

An acquisition of the Christchurch-based fishing business would make Sealord the country’s biggest seafood business.


Mainland Poultry sale mooted
12 Sep 2023   /

Mainland Poultry sale mooted

Majority owners Navis Capital is reviewing its ownership of the egg producer, which could result in a $400m-plus sale.


Burger Fuel putting hand in pocket for greenfield franchisees
8 Sep 2023  

Burger Fuel putting hand in pocket for greenfield franchisees

The QSR group is looking at options to continue expanding its footprint in NZ after new franchisee demand dwindles in the tough economic climate.


Fonterra to slim down board
8 Sep 2023  

Fonterra to slim down board

Fonterra plans to slim down its board from 11 to 9 seats.


Freightways on track for Sept ASX listing
8 Sep 2023   /

Freightways on track for Sept ASX listing

Distribution business Freightways says it is on track to be admitted to the ASX on Tuesday 12 September 2023.


Who are the world’s richest F&B billionaires?
6 Sep 2023  

Who are the world’s richest F&B billionaires?

A new list of the world’s richest food and beverage billionaires has been published, with China’s Zhong Shanshan topping it.


Danone appoints new ANZ boss, “healthier, more sustainable” products on agenda
5 Sep 2023  

Danone appoints new ANZ boss, “healthier, more sustainable” products on agenda

The global dairy giant’s new GM of NZ and Aus, Kathy Cavill, fills the gap left by former boss Rodrigo Lima.


Fonterra slips down global dairy rankings
4 Sep 2023   /

Fonterra slips down global dairy rankings

There has been a reshuffle at the top of Rabobank’s annual ranking of global dairy firms as currency fluctuations, inflation and pricing come to the fore.


Fonterra in $1bn cost-cutting drive, job losses loom
1 Sep 2023  

Fonterra in $1bn cost-cutting drive, job losses loom

Fonterra plans to cut $1bn off its operating costs by 2030, according to chief executive Miles Hurrell who said the plan had been in development since late last year.


Pāmu dividend dashed, forecast slashed
31 Aug 2023  

Pāmu dividend dashed, forecast slashed

The state-owned farming company is preparing “to head into a challenging cycle”, scrapping its full-year dividend and downgrading its net operating profit forecast.


NZ Coastal Seafoods details A$1.9m NAB debt facility
31 Aug 2023  

NZ Coastal Seafoods details A$1.9m NAB debt facility

New Zealand Coastal Seafoods’s 100%-owned subsidiary Nine Ocean Fisheries has secured a debt facility with the National Australia Bank for the aggregate sum of A$1.9m.


More write-downs at Me Today, capital raise options on the table
30 Aug 2023  

More write-downs at Me Today, capital raise options on the table

The embattled honey and VMS company is looking at the sale of assets or raising new capital after another punishing year keeps its balance sheet under pressure.


Move Logistics’ loss deepens
30 Aug 2023   /

Move Logistics’ loss deepens

Move Logistics has fallen to a $7.2m net loss after tax after a significant slowing in its freight division.


Record year for MHM Automation
30 Aug 2023  

Record year for MHM Automation

MHM Automation, which services the global dairy, meat, horticulture and food processing sectors, delivered a 107% increase in operating EBITDA to $9.87m in the year to 30 June 2023.


MWE export sales jump 23% but profit squeezed
29 Aug 2023   /

MWE export sales jump 23% but profit squeezed

Marlborough Wine Estates has followed its peers in growing its export sales, as well as seeing its bottom line shrink at the hands of rising costs.


GSH aiming for Q4 sale
29 Aug 2023  

GSH aiming for Q4 sale

Good Spirits Hospitality is on track to complete its $20.7m conditional sale to Brew on Quay in the fourth quarter, having received sign off from its lender and 24.99% owner Pacific Dawn.


New external auditor for Seeka
29 Aug 2023  

New external auditor for Seeka

Grant Thornton is to succeed PricewaterhouseCoopers as Seeka Limited external auditor after 16 years.


Restaurant Brands ‘fine-tuning operations’ after sharp fall in profit
28 Aug 2023  

Restaurant Brands ‘fine-tuning operations’ after sharp fall in profit

The QSR operator says it is pulling out all the operational stops to improve profitability, as the economic environment hampers cost recovery through price rises.


Delegat joins record case sales club
25 Aug 2023   /

Delegat joins record case sales club

The winemaker reports strong growth in revenue and eyes further opportunities in the US, particularly for Oyster Bay.


Milford sells down My Food Bag holding
25 Aug 2023  

Milford sells down My Food Bag holding

Milford Asset Management has sold down its ‘substantial holding’ in meal kit company My Food Bag.


Foley Wines toasts record year but investment means no dividend
24 Aug 2023  

Foley Wines toasts record year but investment means no dividend

Bill Foley’s wine company says paying a dividend on top of $10m capex would expose the business to debt “at a time of extremely high costs of borrowing”.


Choppy Q3 for Sanford
24 Aug 2023  

Choppy Q3 for Sanford

Lower catch volumes thwarted Sanford in Q3 as strong pricing persisted, while its inshore fisheries continued to drag its wildcatch division and productivity problems plagued its new bioactives plant.


Wage bill dampens earnings at Woolworths NZ
23 Aug 2023  

Wage bill dampens earnings at Woolworths NZ

Woolworths Group CEO Brad Banducci says “the short-term outlook remains challenging” in New Zealand, after earnings fall by a fifth.


Protein props up subdued Scales
23 Aug 2023  

Protein props up subdued Scales

The diversified agribusiness’ growing protein division propped up its interim results as horticulture and logistics performances fall due to extreme weather events.


Seeka looks beyond first-half kiwifruit crush
23 Aug 2023   /

Seeka looks beyond first-half kiwifruit crush

Seeka remains on track for a full-year loss of between $20m – $25m this year after a punishing period for its foundation kiwifruit business.


Ebos bosses FY23 with profit jump
23 Aug 2023  

Ebos bosses FY23 with profit jump

Healthcare and pet products company Ebos added 23% to its underlying net profit after tax to deliver a record result of $281.8m.


Zespri guides profit range of $155m-$175m
23 Aug 2023  

Zespri guides profit range of $155m-$175m

Zespri’s net profit after tax is expected to be between $155m and $175m, including licence release income, for FY24.


Comvita reports record revenue of $234m
22 Aug 2023   /

Comvita reports record revenue of $234m

The honey company says all of its market segments have reported double-digit revenue growth, with Greater China breaking the $100m mark for the first time.


A2 defies China slowdown, more challenging FY24 expected…
21 Aug 2023  

A2 defies China slowdown, more challenging FY24 expected…

The dairy company delivers a 27% jump in net profit but warns that challenging conditions in its largest market will continue into 2024.


…as Big Chill, ProducePronto owner learns cyclone lessons
21 Aug 2023  

…as Big Chill, ProducePronto owner learns cyclone lessons

New capacity in Freightways’ temperature-controlled network will be a “game-changer” after a year marred by Cyclone Gabrielle and Cook Strait ferry disruption, according to the company’s bosses.


LIC downgrades guidance after milk price falls
18 Aug 2023  

LIC downgrades guidance after milk price falls

Livestock Improvement Corporation has downgraded its expected underlying earnings for 2023-24 as a result of the reduced farmgate milk price range and uncertainty in relation to farmer spending.


MFB consolidating in Auckland as cuts continue
17 Aug 2023  

MFB consolidating in Auckland as cuts continue

The meal kit company is consolidating into one Auckland DC as part of a focus on costs, but says demand has stabilised in recent months.


Wishbone latest F&B casualty as costs rise, sales slow
16 Aug 2023   /

Wishbone latest F&B casualty as costs rise, sales slow

Wellington-founded foodservice firm Wishbone is the latest food business to succumb to an environment of rising costs and squeezed profit.


TWE buying $54m ANZ vineyards
16 Aug 2023   /

TWE buying $54m ANZ vineyards

Treasury Wine Estates has entered into a contract to purchase vineyard assets in Australia and New Zealand for approximately A$50m ($54m), according to its annual report.


Staffing issues mean ‘disappointing’ H1 for PharmaZen
16 Aug 2023  

Staffing issues mean ‘disappointing’ H1 for PharmaZen

Christchurch biotechnology company PharmaZen reported a disappointing result for the six months to 30 June 2023, following significant staffing issues in the first quarter.


Grocery Commissioner & GST – more questions over monitoring

Grocery Commissioner & GST – more questions over monitoring

There are concerns that Labour’s proposed GST removal on fruit and veges could divert resources from the newly-established grocery watchdog’s main mission.


DB Breweries revenue rises, but costs climb in “tough” year for industry
14 Aug 2023  

DB Breweries revenue rises, but costs climb in “tough” year for industry

An extra $20m in sales was not enough to offset a frothy increase in expenses at the Heineken subsidiary.


Fonterra details $50m share buyback
14 Aug 2023  

Fonterra details $50m share buyback

Fonterra’s $50m share buyback programme will commence on 18 August 2023 and is expected to continue until 13 August 2024 as part of the co-op’s ongoing capital management programme.


Fonterra on track for top end of forecast
11 Aug 2023  

Fonterra on track for top end of forecast

Fonterra expects to end the year at the top end of its forecast earnings range of 65-80 cents per share.


Fonterra confirms timeline for capital return payment
10 Aug 2023  

Fonterra confirms timeline for capital return payment

Fonterra has confirmed the key dates for its capital return after receiving final orders from the High Court sanctioning its farmer-approved scheme of arrangement.


Craft brewer Brothers Beer goes into voluntary administration
8 Aug 2023  

Craft brewer Brothers Beer goes into voluntary administration

Auckland craft brewing and hospitality company Brothers Beer has been placed in voluntary administration after being unable to shake off the impacts of Covid-19.


Restaurant Brands downgrades guidance as costs drag
7 Aug 2023   /

Restaurant Brands downgrades guidance as costs drag

Rising input costs, particularly for ingredients and wages in NZ, are hitting Restaurant Brands’ bottom line.


T&G suffers $21m interim loss due to Cyclone Gabrielle, subdued demand
4 Aug 2023  

T&G suffers $21m interim loss due to Cyclone Gabrielle, subdued demand

But the company says the long-term outlook for fresh produce remains positive.


Suntory creates $3bn ANZ drinks group…

Suntory creates $3bn ANZ drinks group…

Suntory Oceania brings together spirits and alcoholic RTD business Beam Suntory with Frucor Suntory by 2025 in Australia and 2026 in NZ.


GSH trying for shareholder payout
3 Aug 2023  

GSH trying for shareholder payout

Good Spirits Hospitality is asking its lender to permit a payout to shareholders from the proceeds of its sale, even though its disposal price is less than its debt pile.


CEO and Sigley lead $21m buyout of GSH
2 Aug 2023   /

CEO and Sigley lead $21m buyout of GSH

Good Spirits Hospitality’s Geoff Tuttle and Nourish Group founder Richard Sigley are part of the group buying the nine-strong portfolio.


Sanford CEO resigns, steps down immediately
1 Aug 2023  

Sanford CEO resigns, steps down immediately

Board member Craig Ellison shifts into the role of interim CEO as the hunt for a replacement begins.


NZCS adds funds, refocuses on Aus scale-up
1 Aug 2023  

NZCS adds funds, refocuses on Aus scale-up

New Zealand Coastal Seafoods is turning its focus to ramping up its Australian activity after ticking off a number of milestones in the June quarter.


CCEP NZ banks $77m sale of local brands, with more to come…
27 Jul 2023   /

CCEP NZ banks $77m sale of local brands, with more to come…

The sale of brands developed in NZ and Australia results in a big windfall for the Kiwi division of the Coca-Cola bottler.


Fonterra in $50m share buyback
27 Jul 2023  

Fonterra in $50m share buyback

Fonterra is allocating $50m to start an on-market share buyback programme next month.


Farmers approve Fonterra’s capital return scheme
26 Jul 2023  

Farmers approve Fonterra’s capital return scheme

Farmers have voted in favour of Fonterra’s capital return scheme.


TradeWindow details $11m nChain investment as deal completes
25 Jul 2023  

TradeWindow details $11m nChain investment as deal completes

Supply chain technology company TradeWindow says it has concluded a strategic agreement that will see UK-headquartered technology company nChain take a 19.99% stake for $11.1m.


Blis Q1 revenue up 18%
21 Jul 2023  

Blis Q1 revenue up 18%

Blis Technologies delivered revenue growth of 18% and a break-even EBITDA result for the first quarter ending 30 June 2023.


Revenue up but rising costs, restructuring pressure Oreo-maker Mondelēz’s NZ profit
20 Jul 2023  

Revenue up but rising costs, restructuring pressure Oreo-maker Mondelēz’s NZ profit

The NZ division of global confectionary giant Mondelēz delivers a second year of sales growth but joins other FMCG players in suffering rising costs, including restructuring.


Ex-Fonterra exec Kelvin Wickham lands at Ballance
20 Jul 2023   /

Ex-Fonterra exec Kelvin Wickham lands at Ballance

A 34-year Fonterra veteran is taking up the top job as chief executive officer of Ballance Agri-Nutrients.


Mainfreight eyes market share growth in slowdown
17 Jul 2023  

Mainfreight eyes market share growth in slowdown

Mainfreight says it is adopting a more prudent approach to cost management and will remain sales-focused in the face of an incoming slowdown.


More hives to go at Me Today
12 Jul 2023   /

More hives to go at Me Today

The honey and VMS company is slashing hive numbers to below 2,000 in a further scaling back of the 18,000 hives it acquired with King Honey.


Fonterra delays special meeting on capital return
12 Jul 2023   /

Fonterra delays special meeting on capital return

Fonterra has pushed back it’s upcoming special meeting to approve its proposed capital return.


FSNI nears $10bn revenue in record year for private label
10 Jul 2023   /

FSNI nears $10bn revenue in record year for private label

Foodstuffs North Island’s wholesale foodservice distributor, Gilmours, also saw a strong FY23.


Kellogg NZ performance “in line with industry expectations” as profit shrinks
6 Jul 2023  

Kellogg NZ performance “in line with industry expectations” as profit shrinks

Breakfast giant Kellogg counted the cost of offshore manufacturing in its 2022 financial results.


Administrators appointed to Happy Valley Nutrition
6 Jul 2023   /

Administrators appointed to Happy Valley Nutrition

Administrators have been appointed to fledgling Waikato dairy processing business Happy Valley Nutrition.


FSSI revenue jumps, with Pak’nSave, Trents outperforming
5 Jul 2023   /

FSSI revenue jumps, with Pak’nSave, Trents outperforming

A drive to value and the tourist trade support sales at Pak’nSave and Foodstuffs’ foodservice distributor Trents.


Final bids in for GSH venues
5 Jul 2023   /

Final bids in for GSH venues

Good Spirits Hospitality has received final bids as part of the sales process for its nine-strong portfolio of venues.


Comvita in $10m Singapore M&A
4 Jul 2023   /

Comvita in $10m Singapore M&A

Comvita makes good on its pledge to consolidate ownership of the mānuka honey sector, buying Singapore’s HoneyWorld.


Rangatira reveals Mrs Higgins purchase price, “considers options” for cookie-maker
3 Jul 2023   /

Rangatira reveals Mrs Higgins purchase price, “considers options” for cookie-maker

Mrs Higgins produces a range of premium oven-fresh bakery products from its retail outlets as well as packaged cookies for the grocery channel.


Seeka goes green for $201m refinancing
30 Jun 2023  

Seeka goes green for $201m refinancing

It joins a number of other food stakeholders opting for green finance, including Yealands, Pāmu, and T&G Global.


Service Foods plucks off Tegel business
28 Jun 2023   /

Service Foods plucks off Tegel business

The acquisitive foodservice company continues to expand, this time picking up a Tegel subsidiary in Wellington.


MWE 2023 harvest complete, profit expected
28 Jun 2023   /

MWE 2023 harvest complete, profit expected

Marlborough Wine Estates Group has completed the 2023 vintage with volumes up 1.7% on the 2022 vintage and in-line with pre-vintage expectations for the 2023 vintage.


Disruption dissipating for Cooks Coffee
27 Jun 2023  

Disruption dissipating for Cooks Coffee

Cooks Coffee is expecting strong store growth in the 2024 financial year, after a year marred by supply chain disruption which also saw its financial performance dip.


Mrs Higgins owner Rangatira profit jumps
27 Jun 2023  

Mrs Higgins owner Rangatira profit jumps

Rangatira Investments has reported a net profit of $20.4m for the year to 31 March 2023, up 122% on the previous 12 months.


Frucor Suntory swallows $30m juice costs, sinks into red
26 Jun 2023  

Frucor Suntory swallows $30m juice costs, sinks into red

The NZ drinks business falls to a $38m loss after racking up costs associated with its exit from the chilled juice category.


My Food Bag delists from ASX
23 Jun 2023   /

My Food Bag delists from ASX

My Food Bag’s application to de-list from the Australian Stock Exchange has been accepted.


Seeka sinking to loss, starts restructuring
22 Jun 2023  

Seeka sinking to loss, starts restructuring

The kiwifruit exporter is undertaking a review and restructuring all of its business units after forecasting a deep full-year loss.


No bounce-back expected for Zespri in 2024
21 Jun 2023  

No bounce-back expected for Zespri in 2024

Lower licence income and lower supply volumes are forecast to depress Zespri’s profit even further in the year to 31 March 2024.


Final bids expected “shortly” for GSH
21 Jun 2023   /

Final bids expected “shortly” for GSH

Good Spirits Hospitality is expecting final bids shortly as part of the sales process for its nine-strong portfolio.


Scott to undertake strategic review of ownership
19 Jun 2023  

Scott to undertake strategic review of ownership

Scott Technology will conduct a strategic review of its ownership structure following discussions with its major shareholder JBS Australia.


F&B represents in Kantar Corporate Reputation Index
16 Jun 2023   /

F&B represents in Kantar Corporate Reputation Index

Foodstuffs no-frills supermarket banner Pak’nSave moved from fifth to third in this year’s Kantar Corporate Reputation Index.


Lion NZ rationalisation costs hit home
15 Jun 2023  

Lion NZ rationalisation costs hit home

The company tells the Ticker that it has been going through a period of restructuring.


Asahi NZ books bump from $30m sale of RTD subsidiary…
14 Jun 2023  

Asahi NZ books bump from $30m sale of RTD subsidiary…

The company has sold the US and Canadian operations connected to Michael Erceg’s Independent Liquor.


Fonterra outlines $800m restructure
13 Jun 2023  

Fonterra outlines $800m restructure

Fonterra has outlined plans for its proposed $800m shareholder capital return, following interim orders by the High Court.


Westland takes control of loss making infant formula jv in $30m deal
12 Jun 2023  

Westland takes control of loss making infant formula jv in $30m deal

The West Coast dairy company buys out its partner’s 60% stake in the loss-making infant formula joint venture.


Froneri NZ’s loss doubles as costs keep rising
9 Jun 2023   /

Froneri NZ’s loss doubles as costs keep rising

Global ice cream company Froneri’s recent headway made at the operating level in New Zealand has melted away, after a tough 2022 saw it streamline its product range to combat supply chain disruption.


McDonald’s NZ profit, revenue, dividends jump
9 Jun 2023  

McDonald’s NZ profit, revenue, dividends jump

McDonald’s Restaurants’ New Zealand business saw revenue jump to $304.99m in the year to December 2022, up 21.3% from the previous year.


Scales in discussions for Europe expansion – MD
8 Jun 2023  

Scales in discussions for Europe expansion – MD

Scales Corporation has global ambitions for its pet food division, managing director Andy Borland told shareholders at the agribusiness’ annual shareholders meeting, including expanding into Europe.


Rising costs see Goodman Fielder return to the red
7 Jun 2023  

Rising costs see Goodman Fielder return to the red

Its latest results come in the same month that the company completes its exit from New Zealand’s pie category.


Synlait puts Dairyworks, Talbot Forest Cheese on the block
2 Jun 2023   /

Synlait puts Dairyworks, Talbot Forest Cheese on the block

The decision to divest the consumer cheese businesses comes four years after investing around $150m to acquire them.


New food contracts support Q3 “momentum” – Scott
1 Jun 2023  

New food contracts support Q3 “momentum” – Scott

Scott Technology secured new food company contracts in the third quarter, supporting its continued momentum following strong first-half results, according to the company.


Synlait trims milk price forecast
1 Jun 2023  

Synlait trims milk price forecast

Synlait Milk has reduced its forecast base milk price for the 2022/2023 season by 10 cents to $8.20/kgMS.


Zespri profit down a third in “toughest-ever season”
31 May 2023  

Zespri profit down a third in “toughest-ever season”

Zespri International delivered a 34.1% drop in annual profit after what was one of its “toughest-ever seasons”, says chief executive Dan Mathieson.


Profit jumps at Burger Fuel with sales back to pre-Covid levels
31 May 2023  

Profit jumps at Burger Fuel with sales back to pre-Covid levels

Burger Fuel Group has reported a preliminary net profit after tax of $900,418 for the 12 months to 31 March 2023, up 56.3% on the previous year. 


Cooks Coffee slips into red after write down
31 May 2023  

Cooks Coffee slips into red after write down

Auckland-based international coffee cafe chain Cooks Coffee has reported a preliminary net loss before tax of $3.2m for the year to 31 March 2023, down from last year’s $0.34m profit.


Krispy Kreme cracks $20m NZ revenue
29 May 2023  

Krispy Kreme cracks $20m NZ revenue

Revenue jumped around 40% as sales skyrocket across all three of its channels in NZ.


Fonterra upgrades FY forecast after strong Q3, but consumer still in the doldrums
25 May 2023  

Fonterra upgrades FY forecast after strong Q3, but consumer still in the doldrums

The dairy co-op posts an almost threefold increase in third-quarter profit, although its consumer division is still in the doldrums.


Mainfreight FY23: Revenue growth slows
25 May 2023  

Mainfreight FY23: Revenue growth slows

Mainfreight posted an 8.8% increase in revenue to $5.68bn in its annual result, with a pre and post-tax profit both up 20% to $587.4m and $426.5m respectively.


Savor savours 70% earnings jump, narrows loss
25 May 2023  

Savor savours 70% earnings jump, narrows loss

Auckland hospitality group Savor’s revenue rose 70% to $52.4m for the year to March 2023, with EBITDA also jumping 70% compared to the previous 12 months to $5.2m.


Zespri: NZX listing in 2023 “unlikely” 
25 May 2023   /

Zespri: NZX listing in 2023 “unlikely” 

Zespri says it is now unlikely it will procced with a listing on the New Zealand Stock Exchange this year.


Blis Technologies hits FY guidance
25 May 2023  

Blis Technologies hits FY guidance

Probiotics manufacturer Blis Technologies has delivered revenue of $10.2m, 14% growth on the prior year, with an EBITDA loss of $0.6m and a net deficit of $1.4m.


Govt recapitalisation for Plant & Food Research

Govt recapitalisation for Plant & Food Research

The CRI is receiving a capital injection of up to $28m from the govt – its first recapitalisation “in living memory,” according to departing CEO David Hughes.


Honey woes: Me Today mānuka write-down worsens, industry laments IPONZ ruling
23 May 2023   /

Honey woes: Me Today mānuka write-down worsens, industry laments IPONZ ruling

A poor mānuka honey harvest more than doubles Me Today’s expected write-down.


Sanford to offload inshore operations to Moana in $125m+ deal
22 May 2023   /

Sanford to offload inshore operations to Moana in $125m+ deal

The proposed long-term arrangement turns the profit-dragging operations into a lower-risk revenue stream, says Sanford CEO Peter Reidie.


My Food Bag profit drops 60%, ASX listing and jobs cut
19 May 2023   /

My Food Bag profit drops 60%, ASX listing and jobs cut

The meal kit company’s profit falls 60%, leading it to cut headcount and delist from the ASX as it scrambles to reduce costs.


Cyclone damage to push T&G deep into the red
18 May 2023  

Cyclone damage to push T&G deep into the red

A write-down required following an assessment of Cyclone Gabrielle damage will push the apple exporter to its second annual loss running.


“Good interest for bidders” in GSH sale
17 May 2023   /

“Good interest for bidders” in GSH sale

The under pressure Auckland hospitality group reports “good interest” from potential buyers as the sales process for its nine-strong portfolio grinds on.


Inghams lays out case for $8.6m Bromley Park acquisition
16 May 2023   /

Inghams lays out case for $8.6m Bromley Park acquisition

The Australia-based poultry group says the deal would help avoid potential disruption of chicken meat in NZ, where it is the most popular animal protein available to consumers.


Nutritional ingredient maker PharmaZen bounces back into black despite challenges
16 May 2023  

Nutritional ingredient maker PharmaZen bounces back into black despite challenges

The Christchurch biotechnology company delivers a strong post-Covid turnaround in 2022 despite battling supply chain snarl-ups and labour shortages.


Restaurant Brands makes SAP move
10 May 2023   /

Restaurant Brands makes SAP move

Food franchisee Restaurant Brands said it has a single, consistent Enterprise Resource Planning system for the first time, after implementing new software solutions from German company SAP.


Another debt deferral for GSH
10 May 2023  

Another debt deferral for GSH

Good Spirits Hospitality has pushed back its debt interest payment date by another week.


So far so good: Unilever serves up solid 2022
9 May 2023  

So far so good: Unilever serves up solid 2022

CPG giant’s New Zealand operations face down economic headwind to keep up the growth momentum that started in 2020.


Griffin’s Proper deal spices up Q1 M&A
9 May 2023   /

Griffin’s Proper deal spices up Q1 M&A

M&A activity in NZ remained steady in the first quarter despite economic headwinds, according to PwC, with some high-profile food players spicing up activity.


Pavé picks up Upfield contract for NZ
8 May 2023   /

Pavé picks up Upfield contract for NZ

The Australian plant-based manufacturer of Flora appoints a new sales and distribution partner in NZ as it embarks on the “next phase of its journey” in Aotearoa.


Kerry’s NZ revenue tops $50m, but costs grow too
5 May 2023  

Kerry’s NZ revenue tops $50m, but costs grow too

The global food ingredients giant sees good growth in NZ turnover but increased expenses eat into its bottom line.


Countdown Q3 sales jump to $1.6bn despite Cyclone Gabrielle disruption
3 May 2023   /

Countdown Q3 sales jump to $1.6bn despite Cyclone Gabrielle disruption

Inflation drives growth although the extreme weather over summer hurt online sales at Woolworths’ NZ Food business.


GSH lenders defer interest payment – again
3 May 2023   /

GSH lenders defer interest payment – again

Lenders to Good Spirits Hospitality have once again deferred a March quarter interest payment, as it pursues a sale of the business.


Comvita maintains double-digit growth guidance despite reduced harvest, extreme weather
2 May 2023  

Comvita maintains double-digit growth guidance despite reduced harvest, extreme weather

The mānuka honey exporter credits its break-even harvest model for seeing it through the challenging season, which has seen volumes fall sharply.


DB’s Star Hospitality deal completes
1 May 2023   /

DB’s Star Hospitality deal completes

DB Breweries has completed a deal which creates what it says is the largest hospitality group in the country, Star Hospitality.


Synlait shares sink after second earnings downgrade
27 Apr 2023  

Synlait shares sink after second earnings downgrade

The company’s share price fell 27% on the NZX on Wednesday after an earnings guidance downgrade.


Synlait slashes guidance, points finger at A2 Milk…
26 Apr 2023   /

Synlait slashes guidance, points finger at A2 Milk…

After a two-day trading halt, the dairy company says at worst it could end up $5m in the red after further reduced demand from “one of its customers”.


…but A2 Milk “surprised” at Synlait downgrade, maintains own guidance
26 Apr 2023   /

…but A2 Milk “surprised” at Synlait downgrade, maintains own guidance

A2 Milk says it is “surprised at the extent of the reduction in Synlait’s guidance range,” and gives its own update on its full year outlook.


Restaurant Brands sales up 12% in Q1
24 Apr 2023  

Restaurant Brands sales up 12% in Q1

New Zealand Q1 sales jump 9.2%, with Australia delivering the best regional numbers for the QSR group.


Synlait trading halt, potential revised guidance
21 Apr 2023  

Synlait trading halt, potential revised guidance

Synlait requested the halt “to provide it with additional time to properly consider new information it has received which may require it to revise its previously issued guidance to the market.”


Seeka kiwifruit volumes down 20%, loss looms
20 Apr 2023  

Seeka kiwifruit volumes down 20%, loss looms

The produce exporter warns that a poor harvest could tip into an operating loss.


NZFGC board nominations open
20 Apr 2023  

NZFGC board nominations open

Board nominations are open for the New Zealand Food & Grocery Council.


Zespri to halt trading on USX for auction
18 Apr 2023  

Zespri to halt trading on USX for auction

Zespri intends to halt trading of its ZGL shares on share trading platform Unlisted Securities Exchange (USX) from 5pm Friday 28 April 2023.


NZ King Salmon chair resigns
17 Apr 2023   /

NZ King Salmon chair resigns

Ryder joined the NZKS board in 2009. He will depart at the company’s AGM on 14 June.


Terra Vitae: Bumper harvest to have “material positive effect” on profit
14 Apr 2023   /

Terra Vitae: Bumper harvest to have “material positive effect” on profit

Terra Vitae has reported a harvest of 5,219 tonnes for its 2023 vintage from its Hawke’s Bay and Marlborough vineyards.


Scott Technology H1 profit surges 65%
13 Apr 2023  

Scott Technology H1 profit surges 65%

Automation equipment maker Scott Technology delivered a 65% increase in first half profit following higher sales and margins.


Arnott’s acquisition of 180 Degrees – how much did it pay and how has the deal panned out?
12 Apr 2023   /

Arnott’s acquisition of 180 Degrees – how much did it pay and how has the deal panned out?

It included $5.6m in goodwill for the premium cracker brand, with a significant revenue and profit bump following.


Scales reinstates downgraded guidance
11 Apr 2023   /

Scales reinstates downgraded guidance

Scales is expecting an underlying net profit of between $14 – $19m in 2023, according to reinstated guidance.


Asahi changes Aus beer distribution in NZ with end of Lion deal
6 Apr 2023   /

Asahi changes Aus beer distribution in NZ with end of Lion deal

The Japanese drinks giant has appointed Asahi Beverages New Zealand the on- and off-premise distribution contract previously held by rival brewer Lion New Zealand.


Doors closing at troubled Takitimu Seafoods
5 Apr 2023   /

Doors closing at troubled Takitimu Seafoods

The loss-making Hawke’s Bay business is shutting with the impacts of Cyclone Gabrielle the final nail in the coffin.


TradeWindow updates staff cuts, downgrades FY24 revenue guidance
5 Apr 2023  

TradeWindow updates staff cuts, downgrades FY24 revenue guidance

TradeWindow says its signalled staff cust will come in at the lower end of the 25-35 range provided in March.


‘We did everything we could’ – Justin Lemmens on Rosa Foods
4 Apr 2023  

‘We did everything we could’ – Justin Lemmens on Rosa Foods

The company’s owner says its liquidation has no impact on the government-backed Sustainable Foods business that he leads.


Blis upgrades earnings guidance on growing sales, falling costs
4 Apr 2023   /

Blis upgrades earnings guidance on growing sales, falling costs

Dunedin probiotics company Blis Technologies has upgraded its revenue and earnings guidance for the financial year ended 31 March 2023.


“Skyrocketing costs” forces Phoric shutdown
3 Apr 2023   /

“Skyrocketing costs” forces Phoric shutdown

The company is the latest food and drink manufacturer to close due to input inflation and shrinking margins.


Rosa Foods in liquidation, scores of food firms amongst creditors
3 Apr 2023  

Rosa Foods in liquidation, scores of food firms amongst creditors

The ready-to-eat meal manufacturer is being liquidated, with no white knight having emerged following its administration in January.


Bill Foley subs in English footy for Kiwi wine
3 Apr 2023   /

Bill Foley subs in English footy for Kiwi wine

US billionaire Bill Foley is handing over the reins at his wine company to make more time for the UK football club he recently bought for £120m.


Good Spirits lender defers interest date
3 Apr 2023  

Good Spirits lender defers interest date

Good Spirits Hospitality has been given extra time from its lender to make an interest payment as it continues with an asset sell-down.


Record profit for Silver Fern Farms triggers $250m “transformative investment programme”
31 Mar 2023   /

Record profit for Silver Fern Farms triggers $250m “transformative investment programme”

Silver Fern Farms grew its annual profit 82% last year, triggering a $250m investment programme which will likely see an expansion of its carbon-zero products.


Fonterra completes $1bn Chile sale
31 Mar 2023  

Fonterra completes $1bn Chile sale

Fonterra has completed the sale of its Chilean Soprole business to Gloria Foods – JORB S.A.


TradeWindow finds $11m strategic investor
31 Mar 2023   /

TradeWindow finds $11m strategic investor

Supply chain technology company TradeWindow has agreed to sell a 19.99% stake to strategic investor nChain for $11.1m.


Scales expands US proteins capacity
30 Mar 2023  

Scales expands US proteins capacity

Scales says it is expanding its pet food and ingredients capacity in the US following strong growth in the global proteins market.


NZ King Salmon back in the black after overhaul
29 Mar 2023  

NZ King Salmon back in the black after overhaul

The company returns a slim profit and improved cashflow after revamping its fish farming operations to combat mortality.


How does Nestlé’s ANZ portfolio stack up under the Health Star Rating?
28 Mar 2023   /

How does Nestlé’s ANZ portfolio stack up under the Health Star Rating?

Globally, around a third of the food giant’s sales comprise products falling at the lower end of the Health Star Rating scale.


Fonterra’s new capital structure starts today
28 Mar 2023  

Fonterra’s new capital structure starts today

Fonterra’s flexible shareholding capital structure comes into effect today, after two years of development.


Synlait profit slumps, debt climbs after SAP tumult
27 Mar 2023  

Synlait profit slumps, debt climbs after SAP tumult

“Implementing SAP was the right decision, however, our readiness was not where we needed it to be,” says CEO Grant Watson.


Grocery now 22% of sales at The Warehouse
23 Mar 2023  

Grocery now 22% of sales at The Warehouse

Grocery sales for 1H23 jumped 34% at the red sheds, driven by consumers seeking value.


High-value strategy supports Westland Milk turnaround
23 Mar 2023  

High-value strategy supports Westland Milk turnaround

“The biggest contributor to increasing revenue has been our high-value product strategy and to some extent high global commodity prices” – CEO Richard Wyeth.


MG buys Warkworth’s Southern Paprika
23 Mar 2023   /

MG buys Warkworth’s Southern Paprika

Market Gardeners has bought Warkworth-based capsicum hothouse operation, Southern Paprika Limited.


Pāmu downgrades profit forecast
22 Mar 2023  

Pāmu downgrades profit forecast

State-owned enterprise Pāmu, also known as Landcorp Farming, has downgraded its net operating profit full-year forecast from $55m to now come in between $34m – 44m.


DB deal creates new 55-strong pub group
17 Mar 2023   /

DB deal creates new 55-strong pub group

The Heineken-owned brewer is increasing its interests in the hospitality sector in a deal that will create a new 55-venue hospitality group.


Two year recovery, now three – Synlait pushes out turnaround
17 Mar 2023  

Two year recovery, now three – Synlait pushes out turnaround

Synlait Milk has released a FY23 net profit after tax guidance range of $15m to $25m.


Fonterra interim profit jumps 50%…
16 Mar 2023  

Fonterra interim profit jumps 50%…

The co-op says a strong performance from ingredients and a recovery in foodservice more than offset ongoing challenges in its consumer business.


…but $162m is wiped off the value of its consumer brands
16 Mar 2023   /

…but $162m is wiped off the value of its consumer brands

Fonterra wrote down the value of its New Zealand and Asian consumer brands by a total of $162m in the first half of FY23 as it battled higher input costs and ongoing pressure on margins.


Waterman restructures My Food Bag stake
15 Mar 2023  

Waterman restructures My Food Bag stake

My Food Bag’s largest shareholder, Waterman Fund 3 LP, is transferring its 15.7% shareholding in the meal kit company to a new limited partnership to be known as Long Term Food Group.


TradeWindow to cut headcount by up to a third
15 Mar 2023   /

TradeWindow to cut headcount by up to a third

TradeWindow is looking to reduce its headcount by up to a third, as part of proposed cost reductions to reduce cash usage to a more sustainable level.


Slow global economy prompts Synlait milk price downgrade
14 Mar 2023  

Slow global economy prompts Synlait milk price downgrade

Synlait Milk has reduced its forecast base milk price for the 2022 / 2023 season to $8.50/kgMS from $9.00/kgMS.


Comvita jv exposed to US bank collapse
13 Mar 2023   /

Comvita jv exposed to US bank collapse

The mānuka honey company’s Caravan Honey venture has US$2.5m with the failed Silicon Valley Bank, which it cannot access.


New chair for Scales
9 Mar 2023   /

New chair for Scales

Former Beef + Lamb New Zealand and special agricultural trade envoy, Mike Petersen, is to become chair of Scales Corporation.


SeaDragon delists from USX
9 Mar 2023  

SeaDragon delists from USX

Ingredient manufacturer SeaDragon has delisted from the USX.


IWD: How diverse is the leadership at NZ’s big food companies?

IWD: How diverse is the leadership at NZ’s big food companies?

On International Women’s Day, the Ticker takes a look at some of NZ’s largest food companies to see how female board and executive representation stacks up.


Domino’s costs start to slice NZ profits
7 Mar 2023   /

Domino’s costs start to slice NZ profits

The latest results of the NZ division of the global pizza chain franchise are a story of impinging food price inflation, but that isn’t deterring a big recruitment drive.


M&A: Global food ingredients innovator Azelis buys down under distributor
6 Mar 2023   /

M&A: Global food ingredients innovator Azelis buys down under distributor

Global food ingredients innovator Azelis has snapped up a Kiwi speciality distributor with a network of more than 200 strategic principals across Australia, New Zealand and the Pacific Islands.


Zespri in further exec restructure, confirms NZX listing
6 Mar 2023   /

Zespri in further exec restructure, confirms NZX listing

Kiwifruit specialist Zespri is reshaping its leadership team, elevating its global territory executive officers to presidents in addition to recruiting for a chief operating officer.


NZCS completes Nine Ocean deal, adds $2m debt facility
2 Mar 2023   /

NZCS completes Nine Ocean deal, adds $2m debt facility

New Zealand Coastal Seafoods has completed the acquisition of Australian seafood fishing and wholesale export business, Nine Ocean, via a share purchase deal.


Cyclone Gabrielle: The view from LeaderBrand
1 Mar 2023  

Cyclone Gabrielle: The view from LeaderBrand

For the Gisborne business, the big issue is the impact on infrastructure and how long it will be out, and the cash burn in the interim.


Me Today honey loss deepens
1 Mar 2023  

Me Today honey loss deepens

The honey and VMS company’s H1 results attracted more red ink as it worked through the restructure of its honey operation and continued investing to build its sales pipeline.


T&G slips into the red, extends transformation strategy deadline
28 Feb 2023  

T&G slips into the red, extends transformation strategy deadline

The company suffered from ongoing pandemic disruption and a poor year for its powerhouse apples division.


Restaurant Brands sales up but profit falls as costs squeeze margins
28 Feb 2023  

Restaurant Brands sales up but profit falls as costs squeeze margins

Sales were up, but profit was down with Covid-19 costs giving way to inflation squeezing earnings.


Good Spirits trims H1 loss, asset sales ongoing
28 Feb 2023  

Good Spirits trims H1 loss, asset sales ongoing

The new financial year started ahead of expectations for the hospitality group, with improved sales helping it trim its half-year loss.


MWE narrows loss with international wine sales jumping 55%
28 Feb 2023   /

MWE narrows loss with international wine sales jumping 55%

Marlborough Wine Estates has reported a net loss after tax of $247,276 for the six months to 31 December 2022, up 27% on the $339,965 loss made for the previous corresponding period.


Savor closes $3.25m capital raise
28 Feb 2023  

Savor closes $3.25m capital raise

Hospitality group Savor says it has successfully completed its fully underwritten capital raise to shareholders.


Zespri downgrades profit forecast
27 Feb 2023  

Zespri downgrades profit forecast

Zespri has reduced its net profit after tax forecast for the year to 31 March 2023 to $217m – $227m.


TradeWindow falls well short in $20m cap raise
27 Feb 2023  

TradeWindow falls well short in $20m cap raise

TradeWindow says it has raised $5.4m in its discounted non-underwritten capital raising, well short of the $20m it was seeking.


AoFrio reports record revenue with foodservice, ice cream firsts
27 Feb 2023  

AoFrio reports record revenue with foodservice, ice cream firsts

The refrigeration technology business said that during FY22 it launched via a channel partner its first foodservice offering and in December it received its first order from a global ice cream company.


Winemakers Delegat, Foley boost international sales
24 Feb 2023   /

Winemakers Delegat, Foley boost international sales

Both companies increased global case sales in a strong first half, although they grew demand in different parts of the globe.


Sanford prices up but volumes down
24 Feb 2023  

Sanford prices up but volumes down

New Zealand’s largest seafood company has offered a glimpse of post-Covid trading, which shows strong seafood pricing but also lower volumes.


Shine comes off at Woolworths NZ
23 Feb 2023   /

Shine comes off at Woolworths NZ

A tough trading environment featuring higher costs and lower sales was evident in Woolworths’ interim results, with earnings from its NZ business dropping sharply.


Strong protein offsets poor hort for diversified Scales…
23 Feb 2023  

Strong protein offsets poor hort for diversified Scales…

A record performance from its global proteins division has more than offset challenging horticulture sector conditions, pushing through a solid full year result at Scales Corporation.


…while Seeka has nowhere to hide from hort challenges
23 Feb 2023   /

…while Seeka has nowhere to hide from hort challenges

Produce handler and exporter Seeka was hit by a smorgasbord of disruption in 2022 borne out in a 56% drop in net profit in its full year results.


Comvita in sweet H1 results
23 Feb 2023  

Comvita in sweet H1 results

Mānuka honey company Comvita has delivered a barnstorming set of interims results setting records for a 61% increase in operating profit to $11.6m in the six months to 31 December.


Zespri puts early estimate to Cyclone Gabrielle impact
23 Feb 2023   /

Zespri puts early estimate to Cyclone Gabrielle impact

The latest estimate from Zespri indicates that around 70% of the kiwifruit producing area in the Hawke’s Bay and 25% in Gisborne suffered moderate-to-significant damage from Cyclone Gabrielle.


Interims: Pet food drives Ebos to record profit, Just Life earnings squeezed
22 Feb 2023   /

Interims: Pet food drives Ebos to record profit, Just Life earnings squeezed

Australasia’s Ebos benefits from a strong pet food market, while Just Life grapples with wage, cost and interest inflation.


Comvita, Delegat, Terra Vitae assess Cyclone Gabrielle impacts
21 Feb 2023   /

Comvita, Delegat, Terra Vitae assess Cyclone Gabrielle impacts

Comvita will likely write off its Hawke’s Bay honey facility, while Delegat and Terra Vitae gain access to their sites.


Costco reports $20.6m revenue, $12.5m loss before NZ opening
21 Feb 2023  

Costco reports $20.6m revenue, $12.5m loss before NZ opening

Costco Wholesale New Zealand Limited reported a $12.5m loss for the year to 28 August 2022 but it opened its doors to Kiwi shoppers a month after the end of that period.


A2 profit leaps 22% in H1, but challenges remain
20 Feb 2023  

A2 profit leaps 22% in H1, but challenges remain

The dairy processor navigates a “very challenging market” to deliver double-digit interim earnings and revenue growth.


Scales withdraws guidance in aftermath of Cyclone Gabrielle
20 Feb 2023   /

Scales withdraws guidance in aftermath of Cyclone Gabrielle

“Of our group operations, the material impact at this time is to Mr Apple’s orchards,” the company says, withdrawing its 2023 profit guidance.


Big Chill owner Freightways reports revenue up 25%
20 Feb 2023  

Big Chill owner Freightways reports revenue up 25%

Big Chill revenue rose 5%, contributing to a 28% jump in revenue in Freightways’ express package division.


Pāmu in the black in H1, Cyclone Gabrielle to hit FY
20 Feb 2023  

Pāmu in the black in H1, Cyclone Gabrielle to hit FY

Pāmu’s first half net operating profit was $15m for the half-year to 31 December, compared with a loss of $1m the same time last year.


No ‘win back’: My Food Bag warns on FY23
17 Feb 2023  

No ‘win back’: My Food Bag warns on FY23

“Trading in FY23 has remained challenging, with inflationary pressure on households and low consumer confidence resulting in more subdued demand,” says boss Mark Winter.


Blis turns in solid Q3 with revenue up 24%
17 Feb 2023  

Blis turns in solid Q3 with revenue up 24%

Dunedin probiotics company Blis Technologies delivered revenue growth of 24% and a positive EBITDA result for the third quarter ending 31 Dec 2022.


Synlait progresses China re-registration
17 Feb 2023   /

Synlait progresses China re-registration

Synlait is moving to one of the last steps in its Chinese infant formula re-registration.


TWE books H1 earnings and margin growth
16 Feb 2023  

TWE books H1 earnings and margin growth

Treasury Wine Estates posted a 17% increase in reported EBITS to $307.5m in the half year to 31 December 2022.


Subway on the block
15 Feb 2023   /

Subway on the block

The Connecticut-headquartered company has enlisted investment bank JP Morgan to explore a sales process for the company, which could fetch an estimated US$10bn.


TradeWindow extends $20m offer
15 Feb 2023  

TradeWindow extends $20m offer

Trade Window is extending its offer of new shares until 5pm Friday 24 February.


Less red ink expected at NZ King Salmon
10 Feb 2023   /

Less red ink expected at NZ King Salmon

The salmon exporter is forecasting an improved FY23 after stronger than expected harvest, good sales and tight cost control – although it will remain in the red.


Zespri brings forward loyalty payment
10 Feb 2023  

Zespri brings forward loyalty payment

Zespri is bringing forward its June loyalty payment to next week.


Mainfreight trading “satisfactory” as Asia, US soften

Mainfreight trading “satisfactory” as Asia, US soften

Logistic company Mainfreight is on track for a “satisfactory” improvement in its full year results to 31 March 2023, but warned of softening revenue and profit before tax levels for both the USA and Asia.


Pāmu adds second green loan
9 Feb 2023   /

Pāmu adds second green loan

Pāmu has signed a signed a second sustainability-linked loan, this time for a $20m facility with ANZ.


Goodfood bags full Bega Foods distribution
8 Feb 2023   /

Goodfood bags full Bega Foods distribution

The Auckland-based distributor adds the Australian food manufacturer’s spreads, including Vegemite and Bega Peanut Butter, to its portfolio.


Zespri reviewing, reducing corporate costs following grower payment halt
8 Feb 2023  

Zespri reviewing, reducing corporate costs following grower payment halt

Zespri says it is reducing its corporate costs following the lack of progress payments to growers in February.


NZ Coastal Seafoods revenue jumps
3 Feb 2023  

NZ Coastal Seafoods revenue jumps

New Zealand Coastal Seafoods says sales for the three months to December 2022 rose to $1.24m, up 58% on the same period a year earlier.


Savor updates offer info after “minor miscalculation”
2 Feb 2023  

Savor updates offer info after “minor miscalculation”

Auckland hospitality group Savor said it made a minor miscalculation when determining the share price for its upcoming $3.25m rights issue.


Rosa Foods in voluntary administration
1 Feb 2023  

Rosa Foods in voluntary administration

Voluntary administrators have been appointed to Wellington food manufacturer Rosa Foods – a company linked to the chief executive of alternative protein player Sustainable Foods, Justin Lemmens.


Savor seeks $3.25m capital to drive venue growth and possible M&A
31 Jan 2023   /

Savor seeks $3.25m capital to drive venue growth and possible M&A

“The group is now well positioned to accelerate its growth through existing and new venues, as well as exploring M&A opportunities as they arise,” says Savor.


Fonterra signs Eroad contract for 500+ tankers
31 Jan 2023  

Fonterra signs Eroad contract for 500+ tankers

Fonterra has signed a five-year contract to install Eroad fleet management hardware across its fleet of 500+ milk tankers.


Speirs’ loss widens as wet weather takes toll
30 Jan 2023  

Speirs’ loss widens as wet weather takes toll

“The business environment at present is tough,” says Speirs Foods executive chair Lee Simpson, warning of continuing difficult trading conditions ahead.


Restaurant Brands Q4 sales jump 17% with NZ leading growth
26 Jan 2023  

Restaurant Brands Q4 sales jump 17% with NZ leading growth

New Zealand delivered the best annual sales growth across the quick service restaurant heavyweight’s four geographies.


All change at the top for Mondelēz NZ…
23 Jan 2023   /

All change at the top for Mondelēz NZ…

MD Cara Liebrock is promoted to the US, with a new boss from Goodman Fielder appointed to lead the global snack giant’s New Zealand business.


Savor books record December, forecasts earnings jump
19 Jan 2023  

Savor books record December, forecasts earnings jump

The hospitality group is on the way to its $70m revenue milestone next year, after a record December at its key restaurants, including the newly-opened Bivacco.


Scott Technology adds Costco to client list
19 Jan 2023  

Scott Technology adds Costco to client list

Dunedin-headquartered manufacturing technology company Scott has landed a number of new key contracts, including one with global retail giant Costco Wholesale.


Rockit Global targets 100% growth after 2022 harvest shortfall
18 Jan 2023  

Rockit Global targets 100% growth after 2022 harvest shortfall

CEO Mark O’Donnell on why he’s aiming for such an ambitious harvest and how he sees costs and prices evolving in the year ahead.


AB World Foods posts 20% NZ revenue rise during Covid
18 Jan 2023  

AB World Foods posts 20% NZ revenue rise during Covid

The New Zealand operations of AB World Foods – part of global food manufacturer Associated British Foods – reported an A$33m increase in revenue last year.


Business confidence tanks, retail downbeat – NZIER
18 Jan 2023   /

Business confidence tanks, retail downbeat – NZIER

There has been a sharp deterioration in business sentiment and activity, according to the latest NZIER Quarterly Survey of Business Opinion.


Cooks Coffee posts record UK sales
17 Jan 2023  

Cooks Coffee posts record UK sales

Dual-listed Cooks Coffee Company has reported strong sales across its UK coffee chain for the year to 31 December 2022.


TradeWindow after $20m in discounted capital raise
17 Jan 2023  

TradeWindow after $20m in discounted capital raise

TradeWindow is planning to raise up to $20m via a non-underwritten capital raising to drive growth, scale and profitability.


NZ Coastal Seafoods reports accelerating sales
16 Dec 2022  

NZ Coastal Seafoods reports accelerating sales

New Zealand Coastal Seafoods has reported current first half-year sales between July and November 2022 of $2.08m.


Diageo ekes out NZ profit rise as revenue ticks up
14 Dec 2022  

Diageo ekes out NZ profit rise as revenue ticks up

Multinational alcoholic beverage company Diageo will take a small but much improved contribution from its New Zealand operations in 2022, after a 57% rise in pretax profit.


Parrotdog whets appetite for 2023 capital raise
13 Dec 2022  

Parrotdog whets appetite for 2023 capital raise

The company is preparing a 2023 capital raise to drive expansion and help lift annual brewing capacity to five million litres.


Fonterra, Nestlé in $210m Brazil jv sale
13 Dec 2022   /

Fonterra, Nestlé in $210m Brazil jv sale

Fonterra and Nestlé are selling their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m, which is approximately NZ$210m, subject to transaction adjustments.


SeaDragon’s Sheldon ticks over 90% control
13 Dec 2022   /

SeaDragon’s Sheldon ticks over 90% control

The consortium of investors buying out SeaDragon’s minority shareholders has confirmed it now has control of “90% or more” of the voting rights in the fish oil refining company.


Pasta profit: San Remo sees NZ earnings jump 38%
12 Dec 2022  

Pasta profit: San Remo sees NZ earnings jump 38%

The Australian-based pasta maker has reported significant increases in its New Zealand profits during the pandemic.


Pāmu forms independent sustainability panel
12 Dec 2022   /

Pāmu forms independent sustainability panel

Pāmu has established an independent sustainability panel.


Kono shutting down Annies
9 Dec 2022   /

Kono shutting down Annies

The fruit snacking business has largely operated at a loss since Kono bought it out of voluntary receivership in 2014.


Scales guidance “remains achievable”
9 Dec 2022  

Scales guidance “remains achievable”

Diversified agribusiness group Scales has confirmed its 2022 underlying net profit attributable to shareholders range of $23.5m to $28.5m “remains achievable.”


Mrs Higgins down, Fiordland Lobster up – Rangatira interims
8 Dec 2022   /

Mrs Higgins down, Fiordland Lobster up – Rangatira interims

Cookie maker Mrs Higgins endures a “challenging” six months that saw its margins come under pressure, prompting a price rise.


Fonterra Q1 profit up 84%, lifts guidance
8 Dec 2022  

Fonterra Q1 profit up 84%, lifts guidance

Fonterra posted an 84% jump in normalised profit after tax in the first quarter, off the back of a strong margins in protein portfolio – particularly for casein and caseinate products used in medical nutrition.


Me Today warns of losses to come due to honey
8 Dec 2022  

Me Today warns of losses to come due to honey

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Bidfood sees profit shrink as costs grow
7 Dec 2022  

Bidfood sees profit shrink as costs grow

The company’s latest results tell a familiar food sector story of rising costs eating into profit, with revenue relatively flat in this case.


Bullish Delegat targets up to $64m FY23 profit
7 Dec 2022  

Bullish Delegat targets up to $64m FY23 profit

Delegat is on track to achieve full year sales growth to 3,672,000 cases in FY23 delivering a net profit in the $60m to $64m range, shareholders were told at its annual meeting yesterday.


Synlait aims for $2.5bn-plus revenue in FY27
6 Dec 2022   /

Synlait aims for $2.5bn-plus revenue in FY27

Growing its foodservice business is one of Synlait seven key priorities for 2023 as it looks to increase its revenue to more than $2.5bn in the next five years.


Woolworths NZ pretax profit slumps
2 Dec 2022   /

Woolworths NZ pretax profit slumps

Countdown owner Woolworths New Zealand saw its pretax profit slump even as revenue rose more than 6%, with increasing costs putting the squeeze on the retailer.


Cooks Coffee interim profit up
30 Nov 2022  

Cooks Coffee interim profit up

Cooks Coffee Company has seen profit from continuing operations climb 14% to $146k in the half year to 30 September.


Interims: Burger Fuel counts cost of labour shortages
28 Nov 2022  

Interims: Burger Fuel counts cost of labour shortages

One New Zealand BurgerFuel store lost 52 lost trading days in the six month period due to staff shortages.


Fonterra confirms March for new capital structure
25 Nov 2022  

Fonterra confirms March for new capital structure

Fonterra has confirmed that its new flexible shareholding capital structure is set to be implemented in late March 2023.


Savor H1 loss deepens, adds new venue
24 Nov 2022  

Savor H1 loss deepens, adds new venue

Hospitality group Savor has posted a half year loss of $2.1m in the six months to the end of September, going further into the red that the $753k of the same time last year.


Zespri lowers bottom end profit forecast
24 Nov 2022  

Zespri lowers bottom end profit forecast

Zespri’s forecast range of corporate net profit after tax for the year ending 31 March 2023 is $225m to $235m, including licence release income.


Scott Technology in record $190m forward sales
24 Nov 2022  

Scott Technology in record $190m forward sales

Dunedin technology company Scott has a record $190m in forward work in its sales pipeline, according to chief executive John Kippenberger.


DB Breweries claws back profit
23 Nov 2022  

DB Breweries claws back profit

The beverage company manages to rebuild its profit in 2021 even as a second year of Covid-19 disruption saw sales decline year-on-year.


GSH at post-Covid “crossroad” in hunt for deal
23 Nov 2022  

GSH at post-Covid “crossroad” in hunt for deal

Good Spirits Hospitality has launched a review of its strategic options after reaching a post-pandemic “crossroad”, according to chair Matt Adams.


SeaDragon shareholders wait for offer
23 Nov 2022  

SeaDragon shareholders wait for offer

A representative for SeaDragon shareholders has acknowledged the receipt of intention to make unsolicited offer from the major shareholders’ newly formed Sheldon vehicle.


Richlister Mark Stewart mounts SeaDragon takeover
22 Nov 2022  

Richlister Mark Stewart mounts SeaDragon takeover

Major investors team up to make an unsolicited offer to take control of the loss-making ingredient manufacturer.


My Food Bag mulling North Island shake-up
21 Nov 2022  

My Food Bag mulling North Island shake-up

The meal kit company is mulling a multi-million dollar move to improve efficiencies in its North Island operations, as part of plans to shore up its waning performance.


A2 Milk warms up guidance
21 Nov 2022  

A2 Milk warms up guidance

A2 Milk presented a slightly improved outlook to shareholders for its 2023 annual results, albeit currency volatility could still come into play.


Low VMS stock squeezes Just Life profit
21 Nov 2022  

Low VMS stock squeezes Just Life profit

Just Life Group has downgraded its first half net profit forecast due to stock outs in the supply of health supplements, as well as a slowdown in new build homes hitting its healthy homes division.


Pressure grows on My Food Bag as half-year profit slumps
18 Nov 2022  

Pressure grows on My Food Bag as half-year profit slumps

The meal kit company’s interim net profit falls 38% as costs rise and sales drop.


Fonterra finds buyer for $1bn Chile business
18 Nov 2022  

Fonterra finds buyer for $1bn Chile business

The co-op says it “remains committed to targeting a significant capital return” following the deal.


Alliance Group posts record $117m profit
18 Nov 2022  

Alliance Group posts record $117m profit

Red meat co-operative Alliance Group has announced a record pretax profit of $117m for the year ending 30 September 2022, up 186% year-on-year.


MWE puts M&A on the table for 2023
17 Nov 2022  

MWE puts M&A on the table for 2023

Marlborough Wine Estates said its growth focus in 2023 revolves around the further premiumisation of its branded wines, which include the Otu Estate and Music Bay labels.


Seeka downgrades earnings forecast
17 Nov 2022   /

Seeka downgrades earnings forecast

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F&B takes most cash in Snowball Effect’s first $150m
16 Nov 2022  

F&B takes most cash in Snowball Effect’s first $150m

Since launching in 2014, the platform has raised tens of millions of dollars for food and beverage manufacturers and grocery retailers.


Quality and economy: T&G in profit warning
15 Nov 2022  

Quality and economy: T&G in profit warning

A rapid deterioration in the quality of its Envy apples and poor Northern Hemisphere trading could see the listed grower fall $5m into the red.


“We have turned the corner” – Sanford revenue, profit up
15 Nov 2022  

“We have turned the corner” – Sanford revenue, profit up

Sanford has posted an improved set of annual results, boosted by the $50m sale of its crayfish quota, as it moves closer to its pre-Covid performance.


EastPack after $30m to expand capacity
14 Nov 2022   /

EastPack after $30m to expand capacity

Kiwifruit specialist EastPack intends to raise $30m via an issue of five-year subordinated notes to New Zealand investors.


Move downgrades guidance after $14m contract loss
14 Nov 2022  

Move downgrades guidance after $14m contract loss

Move Logistics Group has said that following an unexpected contract loss of circa $14m revenue, full year results for its freight division will be below expectations.


Warehouse Q1 grocery sales rocket 76%
11 Nov 2022  

Warehouse Q1 grocery sales rocket 76%

Demand is shifting from premium categories to essentials like groceries as cost of living pressures grow, leading to spike in sales.


Blis H1 revenue up, still in the red
11 Nov 2022  

Blis H1 revenue up, still in the red

Dunedin probiotics company Blis Technology has delivered a 10% increase in revenue to $4.3m in the six months to 30 September, but remained in the red.


Mainfreight trucks on with 66% jump in H1 profit
10 Nov 2022  

Mainfreight trucks on with 66% jump in H1 profit

“We continue to be confident of trading conditions for the remainder of the financial year, albeit cognisant of economic headwinds and declining seafreight rates and volumes leading into the new year,” the company said.


A2 Milk adds ex-Yashili boss to ELT
10 Nov 2022  

A2 Milk adds ex-Yashili boss to ELT

A2 Milk has appointed the former chief executive officer of dairy company Yashili, Chopin Zhang, to the new executive leadership team role of chief supply chain officer.


PlantTech going into liquidation
10 Nov 2022  

PlantTech going into liquidation

Horticulture technology research organisation PlantTech Research is being put into liquidation by its shareholders, according to chair Mark Gilbert.


A2 Milk starts $150m share buy-back
9 Nov 2022  

A2 Milk starts $150m share buy-back

A2 Milk has started its on-market share buyback across the New Zealand and Australian stock exchanges targeting 5% of its stock.


Challenging year for Ngāi Tahu’s food businesses with honey loss widening
4 Nov 2022   /

Challenging year for Ngāi Tahu’s food businesses with honey loss widening

Its struggling honey firm Oha books $22m in write downs and impairments after a tough year.


Countdown earnings to halve in H1 – Woolworths Group CEO
4 Nov 2022   /

Countdown earnings to halve in H1 – Woolworths Group CEO

Lower sales and higher wages could see Countdown’s half year earnings slashed by 50%, according to parent Woolworths.


Cooks Coffee completes dual listing
3 Nov 2022  

Cooks Coffee completes dual listing

Cooks Coffee Company has completed its dual listing on the Access Segment of the Aquis Stock Exchange Growth Market in the UK with trading to start there on Wednesday 2 November 2022.


NZ Coastal Seafoods Q3 revenue up
3 Nov 2022  

NZ Coastal Seafoods Q3 revenue up

New Zealand Coastal Seafoods generated cash receipts of just over $1m during the third quarter to the end of September 2022, up from around $240,000 in the June 2022 period, and an increase of 7.6% on the previous corresponding period.


Waiheke’s Stonyridge among F&B sales to overseas buyers
2 Nov 2022   /

Waiheke’s Stonyridge among F&B sales to overseas buyers

A new majority owner for Waiheke Island’s Stonyridge Vineyard has plans for export growth.


Rosewarne quits NZ King Salmon
1 Nov 2022  

Rosewarne quits NZ King Salmon

New Zealand King Salmon’s chief executive of 13 years has resigned just weeks out from a crucial decision on its application to develop the country’s first open-water salmon farm.


Silver Fern Farms dividend
1 Nov 2022  

Silver Fern Farms dividend

Silver Fern Farms Co-operative is paying out an $11.2m interim dividend to shareholders – reflecting 10.1 cents a share.


Scales completes A$27m Aus buys, upgrades guidance
1 Nov 2022  

Scales completes A$27m Aus buys, upgrades guidance

Scales Corporation has completed its A$27m investment into two deals in Australia to scale up its newly named global proteins division.


Ziwi profit shrinks as costs eat into rising revenue
31 Oct 2022  

Ziwi profit shrinks as costs eat into rising revenue

The pet food company’s first accounts since its $1.5bn takeover reveal just how much revenue it generates, and which costs have jumped by close to 50%.


Frucor chilled juice exit confirmed
28 Oct 2022  

Frucor chilled juice exit confirmed

The Japanese-owned group’s exit of the chilled category affects the Simply Squeezed, Supreme and Bay Harvest brands, which are only sold in New Zealand.


GSH appoints transaction advisor ahead of Nomura deadline
28 Oct 2022   /

GSH appoints transaction advisor ahead of Nomura deadline

Good Spirits Hospitality has appointed Tonnant Partners as its transaction advisor.


Yealands adds $96m green loan,  joins growing list of F&B SLL holders
27 Oct 2022  

Yealands adds $96m green loan, joins growing list of F&B SLL holders

The sustainability linked loan of up to $96m from ASB is to “support growth plans” at the Blenheim-based winemaker.


QSR: Seven international brands heading to NZ…
26 Oct 2022  

QSR: Seven international brands heading to NZ…

The arrival of the brands, which includes TGI Fridays, follows a deal with London-based World Franchise Associates.


…while QSR heavyweight Restaurant Brands finds post-pandemic traction with solid Q3
26 Oct 2022   /

…while QSR heavyweight Restaurant Brands finds post-pandemic traction with solid Q3

New store openings, foreign exchange wins and lower levels of Covid-19 disruption have helped Restaurant Brands to solid third quarter sales of $322.2m, albeit with a mixed bag across markets.


Yealands interest heats up across the ditch – report
21 Oct 2022   /

Yealands interest heats up across the ditch – report

A deal for Yealands will follow two other separate industry transactions underway for New Zealand wine businesses.


Mainfreight trucking well ahead of expectations
21 Oct 2022   /

Mainfreight trucking well ahead of expectations

Mainfreight first half performance is on track to come in ahead of expectations, with its revenue forecasts jumping 32.5% to just over $3bn.


A2 Milk reviewing exec pay practices
20 Oct 2022  

A2 Milk reviewing exec pay practices

A2 Milk says it is reviewing the company’s remuneration practices to align its Australia and New Zealand executive packages and shareholders’ interests and expectations.


Move expects better earnings, acquires ship for trans-Tasman service
20 Oct 2022  

Move expects better earnings, acquires ship for trans-Tasman service

Transport group Move Logistics says it is expecting to come in ahead of last year’s underlying EBITDA from continuing operations of $54.3m.


Scott Tech sees meat processing revenue jump 22%
18 Oct 2022  

Scott Tech sees meat processing revenue jump 22%

Automation and robotics company Scott Technology saw strong revenue growth from its meat processing business during the year to August 2022.


Palliser shake-up in the pipeline
17 Oct 2022   /

Palliser shake-up in the pipeline

Palliser Estate has managed to stay in the black despite what it says was one of its “most challenging years ever” but has signalled a new business model in the pipeline.


Synlait poaches Fonterra duo for ELT roles
17 Oct 2022   /

Synlait poaches Fonterra duo for ELT roles

The dairy company raids Fonterra’s senior ranks to appoint a director of advanced nutrition and a director of strategy, innovation and corporate.


Fonterra releases sustainable finance framework
17 Oct 2022   /

Fonterra releases sustainable finance framework

Fonterra has released a Sustainable Finance Framework.


Frucor goes cold on chilled juice category
13 Oct 2022  

Frucor goes cold on chilled juice category

The drinks company is preparing to exit the category and is in consultation with staff at its Napier factory where Simply Squeezed is manufactured.


Greenfern opens $5m rights issue
13 Oct 2022  

Greenfern opens $5m rights issue

Biotech company Greenfern has opened its rights issue.


Revenue jumps at Pāmu’s consumer food division but so do costs
12 Oct 2022  

Revenue jumps at Pāmu’s consumer food division but so do costs

Pāmu’s burgeoning consumer food division saw its income jump, with new deer milk products launched and in the pipeline.


Seeka kiwifruit volume damaged by frost
12 Oct 2022   /

Seeka kiwifruit volume damaged by frost

While many kiwifruit growers are still counting the cost of recent frost on their crops, NZX-listed exporter Seeka made an early assessment of the damage to its fruit.


NZ Coastal Seafoods buying Aus seafood biz
11 Oct 2022   /

NZ Coastal Seafoods buying Aus seafood biz

Christchurch-based NZCS says it is a “unique opportunity” to establish an Australian base.


My Food Bag adds ex-Warehouse CEO to board, names interim CFO
10 Oct 2022   /

My Food Bag adds ex-Warehouse CEO to board, names interim CFO

The meal kit company brings Mark Powell aboard and preps for CFO Mark Winter to become acting CEO when Kevin Bowler departs on Friday.


Speirs Foods claws back some profit from pandemic doldrums
7 Oct 2022  

Speirs Foods claws back some profit from pandemic doldrums

The salad supplier posts a hard-won improvement but changing consumer preferences and increasing costs take a toll.


Cooks Coffee looks for $5.8m in capital ahead of dual listing
7 Oct 2022  

Cooks Coffee looks for $5.8m in capital ahead of dual listing

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Westland spreads butter footprint with Canary Foods deal
4 Oct 2022   /

Westland spreads butter footprint with Canary Foods deal

Canary Foods says the deal will give it “even greater access to international markets”.


“We had to keep funding the losses until we got out the other side” – SeaDragon’s Bryan Mogridge
4 Oct 2022  

“We had to keep funding the losses until we got out the other side” – SeaDragon’s Bryan Mogridge

After raising and borrowing more than $7m over the past two years, SeaDragon says it is seeing signs of promise in its value-add plan.


GSH secures $27.5m debt extension, gets  ‘transaction’ deadline
4 Oct 2022  

GSH secures $27.5m debt extension, gets ‘transaction’ deadline

Good Spirits Hospitality has negotiated new terms in relations to its $27.5m debt pile from lender and shareholder Nomura, but has been given a deadline for M&A or an equity deal too.


Honey money: Comvita bullish, while bruised Me Today pursues revenue growth over profit
30 Sep 2022   /

Honey money: Comvita bullish, while bruised Me Today pursues revenue growth over profit

Manuka honey specialist Comvita has laid out a bullish forecast at its annual shareholder meeting, in contrast with Me Today, whose troubled acquisition of King Honey continues to drag the business.


Nestlé pays hundreds of millions for owner of Egmont Honey, GO Healthy brands
29 Sep 2022   /

Nestlé pays hundreds of millions for owner of Egmont Honey, GO Healthy brands

Multinational giant Nestlé pays hundreds of millions to acquire the owner of the Egmont Honey and GO Healthy brands.


Terra Vitae Vineyards record harvest value
29 Sep 2022   /

Terra Vitae Vineyards record harvest value

Terra Vitae Vineyards has reported a record total harvest value of $12.7m on the back of its largest ever harvest of 5,633 tonnes and a record uplift in prices in the year to 30 June 2022.


Supermarket competition: The Warehouse books grocery growth, Costco opens its doors
28 Sep 2022   /

Supermarket competition: The Warehouse books grocery growth, Costco opens its doors

The Warehouse says it will continue to expand its grocery range after seeing 40% growth, while Costco finally invites shoppers in.


NZ King Salmon interims “disappointing” start to 2023
28 Sep 2022  

NZ King Salmon interims “disappointing” start to 2023

New Zealand King Salmon continues to count the cost of January’s marine heatwave and subsequent salmon deaths, reporting a net loss after tax of $24.5m in its interim results.


Synlait weighs up Temuka future
27 Sep 2022   /

Synlait weighs up Temuka future

Uncertainty over re-opening its troublesome Temuka asset lands Synlait with a $12.2m impairment in an otherwise strong set of annual results, which see it return to profit.


NZ Coastal Seafoods loss widens
27 Sep 2022   /

NZ Coastal Seafoods loss widens

New Zealand Coast Seafoods has reported a loss after tax of A$4.55m for the year to June 2022, an increase of 27.5% from the A$3.56m loss it reported last year.


Delegat to invest $52m to grow sales 21% by 2025
23 Sep 2022  

Delegat to invest $52m to grow sales 21% by 2025

Delegat Group says it plans to invest $51.9m in 2023 to provide earnings growth in the years ahead.


SeaDragon in $5.25m debt for equity swap with Pescado
23 Sep 2022   /

SeaDragon in $5.25m debt for equity swap with Pescado

SeaDragon and its major shareholder Pescado Holdings have agreed a debt for equity swap.


Sanford adopts ESG World Platform
23 Sep 2022   /

Sanford adopts ESG World Platform

New Zealand seafood company Sanford has adopted the ESG World Platform.


Fonterra FY22: Poor foodservice, consumer performance offset by ingredients…
22 Sep 2022  

Fonterra FY22: Poor foodservice, consumer performance offset by ingredients…

Foodservice earnings fell 63% but ingredients jumped to more than $900m.


…while the dairy co-op ditches an IPO of its $1.2bn Australian unit
22 Sep 2022  

…while the dairy co-op ditches an IPO of its $1.2bn Australian unit

“We’ve looked at a number of options for our Australian business and have decided that it’s in the co-op’s best interests to maintain full ownership,” says CEO Miles Hurrell.


Move walks away from $15m Fluidex deal
20 Sep 2022   /

Move walks away from $15m Fluidex deal

Move Logistics Group has walked away from its proposed $15.2m acquisition of domestic bulk liquids and dry powder transport provider Fluidex.


PAG expands NZ F&B interests acquiring Leader owner Patties
16 Sep 2022   /

PAG expands NZ F&B interests acquiring Leader owner Patties

“We are excited about this unique opportunity to take some of Australia and NZ’s best-loved brands to the next level,” says the Hong Kong-based investor, one of Asia’s largest PE firms.


East Imperial grows international distribution… and red ink
15 Sep 2022   /

East Imperial grows international distribution… and red ink

“We have invested in the brand, people and our ability to execute on growth,” says chief executive Tony Burt after a tough H1, with some margin growth expected in H2.


Constellation NZ profit falls as costs increase, revenue dips
12 Sep 2022   /

Constellation NZ profit falls as costs increase, revenue dips

Winemaker Constellation NZ Holdings has reported net profit after tax of $23.15m for the year to 28 February 2022, up from $30.17m for the previous period.


Fonterra lifts guidance
9 Sep 2022  

Fonterra lifts guidance

Dairy giant Fonterra has increased its forecast for next year’s earnings lifting its forecast earnings guidance to 45c to 60c per share, up from 30c to 45c per share.


Greenfern launches $1.2m wholesale offer
7 Sep 2022   /

Greenfern launches $1.2m wholesale offer

Biotech company Greenfern Industries has opened a $1.2m offer to wholesale investors.


Mrs Higgins owner Rangatira raises $46m
6 Sep 2022   /

Mrs Higgins owner Rangatira raises $46m

Mrs Higgins owner Rangatira Investments has completed its capital raise to eligible existing and new wholesale investors.


SeaDragon gets another $1m from Pescado
6 Sep 2022   /

SeaDragon gets another $1m from Pescado

SeaDragon has signed a new secured loan agreement of $1m with its majority shareholder, Pescado Holdings.


Ziwi buying Freeze Dried Foods NZ
2 Sep 2022   /

Ziwi buying Freeze Dried Foods NZ

The private equity-owned pet food company is adding the largest freeze-drying operation in the
Southern Hemisphere to its operations.


Foodstuffs rolling Henry’s into Liquorland
31 Aug 2022   /

Foodstuffs rolling Henry’s into Liquorland

Henry’s stores are joining the Liquorland franchise, with plans to transition all of them to the latter’s operating model and brand by March 2023.


Burger Fuel sombre about future, no buyer on the horizon
31 Aug 2022  

Burger Fuel sombre about future, no buyer on the horizon

“These remain uncertain times and we will have to see how things develop over the next 6-12 months,” says CEO Josef Roberts.


Good Spirits launches strategic review after another loss…
30 Aug 2022   /

Good Spirits launches strategic review after another loss…

The group reports another loss and appoints an investment bank to review the business.


…while competitor Savor targets $100m leveraging Amano into wholesale, OJI into retail
30 Aug 2022  

…while competitor Savor targets $100m leveraging Amano into wholesale, OJI into retail

The Auckland restaurant group has unveiled ambitious growth plans, which will see it hit a $70m milestone in 2024, then $100m by building out its Amano and OJI brands.


MWE adds distribution, improves profitability
30 Aug 2022  

MWE adds distribution, improves profitability

Marlborough Wine Estates Group signed new distribution agreements with partners in the US, UK and Ireland, according to its annual results for the year to June 2022.


Zespri USX trading halts ahead of producer vote
30 Aug 2022  

Zespri USX trading halts ahead of producer vote

Trading in Zespri shares on the USX has been halted while the co-op finalises the results of its global supply producer vote.


Me Today to launch new mānuka honey products
29 Aug 2022   /

Me Today to launch new mānuka honey products

The King Honey owner says the new products will be out next month, and it also reveals how much revenue its acquired honey business has generated.


A2 Milk earnings jump 59%, $150m buy back launched
29 Aug 2022  

A2 Milk earnings jump 59%, $150m buy back launched

“We are pleased with the progress that has been made in stabilising the business, refreshing our strategy and improving our execution,” says MD David Bortolussi.


Restaurant Brands sales up – but so are costs
29 Aug 2022  

Restaurant Brands sales up – but so are costs

Operations in all of the company’s markets – NZ, Australia, Hawaii and California – have been stifled by staff availability and supply chain issues.


Delegat profit, revenue, case sales all rise
26 Aug 2022   /

Delegat profit, revenue, case sales all rise

Delegat Group has reported net profit of $63m for the 12 months to June 2022, up 2% from the previous year.


Pāmu earnings up
26 Aug 2022  

Pāmu earnings up

Landcorp Farming, trading as Pāmu, has reported an earnings before interest, tax, depreciation, amortisation and revaluations of $75m for the year ended 30 June 2022.


Woolworths NZ earnings normalise after Covid sales boom
25 Aug 2022  

Woolworths NZ earnings normalise after Covid sales boom

Cost pressures have pushed the Countdown owner’s earnings down but it is still delivering ahead of its pre-pandemic numbers.


Comvita progressing milestones in strong results
25 Aug 2022   /

Comvita progressing milestones in strong results

“The result shared today gives more evidence we can deliver revenue, margin and earnings growth while investing in long term brand and business building activity,” says chair Brett Hewlett.


Foley Wines FY stable, bumper 2022 harvest
25 Aug 2022  

Foley Wines FY stable, bumper 2022 harvest

Foley Wines said its premiumisation strategy helped it make the best of lower wine volumes following a small 2021 harvest and a much higher cost of goods.


Pet food pays dividends for Scales in H1
24 Aug 2022  

Pet food pays dividends for Scales in H1

Ongoing global demand for petfood saw global protein division earnings jump 88%, offsetting a drop in horticulture earnings.


Fruit quality, lower yield challenges continue – Zespri
24 Aug 2022  

Fruit quality, lower yield challenges continue – Zespri

In its August update from chair Bruce Cameron, the co-op said fruit quality remains the primary challenge, particularly for its SunGold kiwifruit.


Unilever ANZ becomes B Corp
24 Aug 2022  

Unilever ANZ becomes B Corp

Unilever Australia and New Zealand has become a B Corporation committed to meeting high standards of social and environmental performance, transparency, and accountability.


Pet food helps drive double-digit earnings growth at Ebos
24 Aug 2022   /

Pet food helps drive double-digit earnings growth at Ebos

Ebos has turned in full year revenue of $10.7bn – the first time it has breached the $10bn mark – representing a 16.6% rise on 2021 with petfood helping the cause.


Big Chill growth continues for Freightways
22 Aug 2022   /

Big Chill growth continues for Freightways

Fresh and frozen logistics business Big Chill helped its parent Freightways maintain momentum in 2022.


Robinson back on My Food Bag board
22 Aug 2022   /

Robinson back on My Food Bag board

My Food Bag co-founder Cecilia Robinson has returned to the listed meal kit company’s board.


Another loan for SeaDragon from Pescado
22 Aug 2022   /

Another loan for SeaDragon from Pescado

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


“We’re seeing cost increases like we’ve never seen before” – Lion raises prices
19 Aug 2022   /

“We’re seeing cost increases like we’ve never seen before” – Lion raises prices

The beverage business says it has seen unprecedented cost increases in the past 12 months.


PharmaZen recovery builds
18 Aug 2022   /

PharmaZen recovery builds

Christchurch biotechnology company PharmaZen, which trades as Waitaki Biosciences, saw revenue jump 36% to $12.8m in the first half to 30 June 2022.


“We’re on a growth path we can’t fuel because of labour shortages” – Tegel CEO Egbert Segers
16 Aug 2022   /

“We’re on a growth path we can’t fuel because of labour shortages” – Tegel CEO Egbert Segers

After a sustained turnaround, the company’s boss says growth is being hampered by a lack of workers.


Blis promotes Walker, shuffles Spiewack from SLT
16 Aug 2022   /

Blis promotes Walker, shuffles Spiewack from SLT

Commercial director Frank Spiewack is no longer part of the company’s senior leadership team and will report to Walker, who takes the newly created role of chief revenue officer.


Just Life adds Natural Solutions to portfolio
16 Aug 2022   /

Just Life adds Natural Solutions to portfolio

Tony Falkenstein’s Just Life Group is adding Natural Solutions NZ to its ‘Healthy Living’ division, following its purchase of About Health and Intenza New Zealand.


Cooks Coffee to dual list on UK’s Aquis
16 Aug 2022  

Cooks Coffee to dual list on UK’s Aquis

Cooks Coffee Company plans to dual list on the UK’s Aquis Stock Exchange Growth Market.


“Customers are trading down” – My Food Bag warns on FY23
15 Aug 2022  

“Customers are trading down” – My Food Bag warns on FY23

A slow start and further inflationary headwinds means a worse financial performance, says the company.


Yealands Wine Group stake up for grabs
12 Aug 2022   /

Yealands Wine Group stake up for grabs

Marlborough Lines is looking to sell down its investment in Yealands Wine Group and reinvest the money in its electricity lines business.


Fonterra to hit upper end of guidance
12 Aug 2022  

Fonterra to hit upper end of guidance

Fonterra has released an upbeat forecast for its full-year profit.


Froneri bounces back from $10m Kāpiti write-down
11 Aug 2022   /

Froneri bounces back from $10m Kāpiti write-down

The global ice cream company starts to make ground in NZ following its 2019 entry via the $380m Tip Top deal with Fonterra, and then the pandemic hitting.


Lion exits UK operations
11 Aug 2022  

Lion exits UK operations

Lion is selling its UK operations to Odyssey Inns.


Zespri quality issues put returns under pressure
10 Aug 2022  

Zespri quality issues put returns under pressure

“Conventional fruit returns are likely to be at the bottom and possibly even below the ranges published in June,” chief executive Dan Mathieson said.


No dice from FDA for NZ dairy companies
10 Aug 2022   /

No dice from FDA for NZ dairy companies

The dairy company’s share price drops 10% after the FDA defers applications to import infant milk formula into the US.


T&G revenue flat, profit up, blueberry biz push
5 Aug 2022  

T&G revenue flat, profit up, blueberry biz push

The global fresh produce company’s main apples business had a challenging H1, while its emerging blueberry category prepped for a push over grapes.


GSH completes Viaduct Velvet deal
5 Aug 2022  

GSH completes Viaduct Velvet deal

Good Spirits Hospitality Limited has completed the acquisition of the Velvet Bar following receipt of the required regulatory approvals and consent from GSH’s financier.


Tegel mulls ComCom setback, warns increased costs means rising prices
4 Aug 2022   /

Tegel mulls ComCom setback, warns increased costs means rising prices

“The costs are clear, and they will ultimately be borne by consumers,” Tegel said in a submission ahead of ComCom green-lighting collective supplier bargaining.


Goodman Fielder NZ’s billion dollar milestone
4 Aug 2022  

Goodman Fielder NZ’s billion dollar milestone

The food manufacturer is distancing itself from the red ink in its recent past, hitting a revenue milestone and improving its operating profit despite 2021’s challenging market conditions.


Sanford Q3 “good” despite labour shortage hampering supply
3 Aug 2022  

Sanford Q3 “good” despite labour shortage hampering supply

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A2 Milk: No US FDA approval… yet
3 Aug 2022   /

A2 Milk: No US FDA approval… yet

Trading resumes in A2 Milk shares after the company says it is still awaiting a decision from the FDA clearing the way for its infant milk powder to go the US.


Synlait restructuring reaches the C-suite
29 Jul 2022   /

Synlait restructuring reaches the C-suite

The company cuts four executive roles and adds five as part of a strategy refresh built around nutrition, ingredients, consumer and foodservice opportunities.


Mainfreight shares up 6% after strong update
29 Jul 2022  

Mainfreight shares up 6% after strong update

Mainfreight’s share price closed up 6.3% at $75.50 yesterday after an upbeat update at its annual meeting on Thursday.


Quality issues will lead to fruit loss – Zespri
29 Jul 2022  

Quality issues will lead to fruit loss – Zespri

Zespri has warned that quality issues will lead to greater fruit loss and higher quality costs this season in its latest update.


Cooks Coffee confirms dual listing, WFH boost
28 Jul 2022   /

Cooks Coffee confirms dual listing, WFH boost

NZX-listed global coffee franchise business Cook Coffee has confirmed it plans to go ahead with a dual listing in the United Kingdom – its largest market.


Costs, Covid to hit Restaurant Brands’ H1 profit
27 Jul 2022  

Costs, Covid to hit Restaurant Brands’ H1 profit

The quick service restaurant group’s sales are holding up but cost inflation and staff absenteeism put H1 profit forecasts at half of last year.


Nourish finds a buyer in Foley Group
22 Jul 2022   /

Nourish finds a buyer in Foley Group

“When the Good Spirits Hospitality deal did not proceed, it was felt that there was a significant amount of synergy with other Foley investments in New Zealand,” says Foley CEO Mark Turnbull.


Craig Baldie on Lion NZ’s “green shoots”
22 Jul 2022   /

Craig Baldie on Lion NZ’s “green shoots”

“In 2022, our business is currently tracking slightly ahead of plan,” Baldie said.


Lion NZ back in the black after big 2020 impairment
21 Jul 2022   /

Lion NZ back in the black after big 2020 impairment

The beverage business has gone through a period of significant consolidation in a move back to basics.


Red flag in SeaDragon’s full year financials
20 Jul 2022   /

Red flag in SeaDragon’s full year financials

The Omega fish oils refiner’s record of red ink prompts a warning from its auditor, while management hopes future sales, margins and prices will see it through.


Choppy H1 for Moana after Sealord salmon mortalities
19 Jul 2022   /

Choppy H1 for Moana after Sealord salmon mortalities

Thousands of fish were lost after a Sealord marine farm at Tasmania suffered a spike in water temperature.


Second Envy deal for T&G, NZ Super
19 Jul 2022   /

Second Envy deal for T&G, NZ Super

Strong demand for the variety overseas puts it on track to be a billion-dollar brand by 2027, says T&G.


Blis ditches D2C for focus on business customers
14 Jul 2022  

Blis ditches D2C for focus on business customers

A 2021 tie-up with Probi provides a blueprint for the Dunedin probiotics company, prompting it to move away from direct-to-consumer sales.


Foodstuffs North Island Group’s $9.3bn year
13 Jul 2022  

Foodstuffs North Island Group’s $9.3bn year

Pak’nSave was FSNI’s fastest-growing retail banner in FY22 with 5.6% same store revenue growth.


FSSI’s FY22 earnings, Warehouse loss & ComCom costs
11 Jul 2022   /

FSSI’s FY22 earnings, Warehouse loss & ComCom costs

Growth slows at Foodstuffs South Island during a period when the grocery sector was put under the microscope by the Commerce Commission.


Kono NZ offloads Yellow Brick Road
11 Jul 2022   /

Kono NZ offloads Yellow Brick Road

The sustainable seafood distribution business has been bought by its former national sales manager, chef Martin Bosley.


Green loans piloted for GIDI projects
8 Jul 2022   /

Green loans piloted for GIDI projects

The government, through the Energy Efficiency Conservation Authority, has commenced a pilot scheme lining up a number of banks to provide green loans to co-funding big decarbonisation projects.


New logo, identity for MG
8 Jul 2022   /

New logo, identity for MG

The grower owned co-operative which previously traded as MG Marketing will be known as MG going forward.


Synlait increases forecast milk price
6 Jul 2022  

Synlait increases forecast milk price

Synlait has increased its forecast base milk price forecast for the 2022 / 2023 season to $9.50/kgMS from $9.00/kgMS.


Blue Sky Meats delists from USX
6 Jul 2022  

Blue Sky Meats delists from USX

Southland meat processor Blue Sky Foods has delisted from the Unlisted Stock Exchange as of 6 July 2022.


Sales slip at Mars NZ
4 Jul 2022  

Sales slip at Mars NZ

Confectionery giant Mars New Zealand saw its sales slip marginally in 2021, as the company took a number of measures to reshape its New Zealand presence and portfolio.


King Honey owner raises more money
4 Jul 2022   /

King Honey owner raises more money

King Honey owner Me Today says it has placed $750,000 of the shortfall arising from its rights issue, bringing the total capital raised to approximately $7.5m.


Cooks eyes dual listing, turns prelim profit to loss
4 Jul 2022  

Cooks eyes dual listing, turns prelim profit to loss

NZX-listed Cooks Coffee Company is considering a dual listing in the UK which it said would be a route to increasing shareholder value as the company expands its operations in that market.


NZ King Salmon quashes takeover talk speculation
30 Jun 2022   /

NZ King Salmon quashes takeover talk speculation

The salmon business says it has not been approached, nor is in discussions with any parties following a report it is gauging interest.


Nestlé acquires Egmont Honey, Go Healthy brands
29 Jun 2022   /

Nestlé acquires Egmont Honey, Go Healthy brands

The deal builds the food giant’s footprint in the regional honey and VMS market, and unlocks growth with the addition of an Auckland factory.


Pepsi versus Coke – their new NZ numbers
29 Jun 2022   /

Pepsi versus Coke – their new NZ numbers

The two biggest drinks companies operating in Aotearoa – Frucor Suntory New Zealand and CCEP – have both increased revenue by almost a quarter over the last five years.


Conditions ripe for F&B consolidation – IRI
28 Jun 2022   /

Conditions ripe for F&B consolidation – IRI

NZ could see a wave of F&B acquisitions as rising costs pile pressure on smaller manufacturers.


T&G Global in NZ hort first $180m green loan
28 Jun 2022  

T&G Global in NZ hort first $180m green loan

The finance will see the grower decarbonise its transport and glasshouses, as well as energy, to meet the loan’s sustainability targets.


No comment from Kellogg ANZ on split
28 Jun 2022  

No comment from Kellogg ANZ on split

The Australian and New Zealand division of Kellogg will not comment on the potential implications, if any, of the breakup of the group.


Me Today raises $6.74m from rights issue
28 Jun 2022  

Me Today raises $6.74m from rights issue

Health, wellness and honey company Me Today has raised approximately $6.74m from a rights issue which closed on Thursday 23 June – enough to cover cashflow but short of the $10m target.


New positions, promotions at Fonterra sees 34-year veteran depart
23 Jun 2022   /

New positions, promotions at Fonterra sees 34-year veteran depart

The co-op is adding two new management roles and merging two business units, prompting the departure of 34-year veteran Kelvin Wickham.


Zespri profit guidance behind last year
23 Jun 2022  

Zespri profit guidance behind last year

Zespri’s forecast range of corporate net profit after tax for 2022/23 is between $227m and $247m, including licence release income.


Seeka’s NZ kiwifruit harvest down
23 Jun 2022  

Seeka’s NZ kiwifruit harvest down

Seeka has forecast a full-year net profit before tax range of $9m to $11m, as a result of lower SunGold and Hayward kiwifruit volumes in New Zealand.


Sanford sets out post-Covid strategy
21 Jun 2022  

Sanford sets out post-Covid strategy

New Zealands largest seafood company has set out a post-Covid recovery strategy which would see it return to pre-pandemic profits.


McDonald’s puts Covid in rear-view mirror with results rebound
20 Jun 2022   /

McDonald’s puts Covid in rear-view mirror with results rebound

Climbing rental income bolsters the QSR franchises’ performance to surpass pre-pandemic levels.


Mrs Higgins owner Rangatira sees profit fall, but NAV, valuation up
20 Jun 2022   /

Mrs Higgins owner Rangatira sees profit fall, but NAV, valuation up

The owner of biscuit brand Mrs Higgins says it will report net profit after tax of $9.1m for the year to March 2022, down 8% from the previous year.


Krispy Kreme’s NZ revenue on the rise
15 Jun 2022  

Krispy Kreme’s NZ revenue on the rise

The world-famous doughnut brand shows signs of recovery in NZ after being pummelled by the pandemic.


T2 sale helps Unilever brew solid 2021
14 Jun 2022  

T2 sale helps Unilever brew solid 2021

The global FMCG giant’s NZ division received a bottom line boost from the disposal of the premium tea business.


King Honey owner opens $10m rights issue
14 Jun 2022   /

King Honey owner opens $10m rights issue

King Honey owner Me Today has opened its $10m rights issue offering eligible shareholders the opportunity to participate at $0.01 per share.


Synlait loses legal lead
13 Jun 2022   /

Synlait loses legal lead

Synlait has announced the resignation of its legal director, Deborah Marris, who oversaw a number of significant transactions, including the acquisitions of Talbot Forest Cheese and Dairyworks.


Comvita upgrades earnings guidance
13 Jun 2022   /

Comvita upgrades earnings guidance

Comvita is forecasting that its full-year reported EBITDA is expected to be in a range of $28.5m – $30m, for the year ending June 2022.


Silver Fern Farms secures $320m green loan
10 Jun 2022   /

Silver Fern Farms secures $320m green loan

Silver Fern Farms has entered into a $320m sustainability-linked working capital financing facility.


Asahi NZ bounces back with 62% profit jump
8 Jun 2022  

Asahi NZ bounces back with 62% profit jump

The Japanese brewing giant’s NZ business recovers from a tough 2020 with revenue up and costs kept under control.


Fonterra shares jump on $50m buyback
8 Jun 2022   /

Fonterra shares jump on $50m buyback

Dairy co-op Fonterra is buying back $50m in its own shares because it believes the price is too low.


Waterman’s Marshall retires from My Food Bag
7 Jun 2022   /

Waterman’s Marshall retires from My Food Bag

Waterman Capital co-founder Chris Marshall will retire from the My Food Bag board in August at the meal kit company’s annual shareholders meeting.


Blue Sky to delist from USX
7 Jun 2022  

Blue Sky to delist from USX

Blue Sky Meats intends to delist from the USX after the close of market trading on 5 July 2022.


Probiotics maker Blis slips into the red
1 Jun 2022   /

Probiotics maker Blis slips into the red

Probiotics company Blis Technologies has slipped into the red posting an EBITDA loss of $2.1m – slightly ahead of guidance – on the back of $9m of revenue in the year to March 2022.


Scott Technology signs record $53m beef deal
1 Jun 2022  

Scott Technology signs record $53m beef deal

Dunedin-headquartered automation and robotics company Scott Technology has signed a US$35m ($53m) deal with a Canadian beef giant.


PharmaZen’s year of “running in quicksand”
1 Jun 2022   /

PharmaZen’s year of “running in quicksand”

The 2021 financial year was one of “running in quicksand,” says Craig McIntosh, managing director of PharmaZen, which trades as Waitaki Biosciences.


Comvita denies involvement in takeover talks
31 May 2022   /

Comvita denies involvement in takeover talks

Comvita has scotched reports that it is in talks over a proposed take-private by shareholder CR Capital Management, the investment arm of Chine Resources Holdings Co.


Cooks Coffee Company nudges into net profit
31 May 2022  

Cooks Coffee Company nudges into net profit

Cooks Coffee Company’s net profit before tax from both continuing and discontinued operations was $0.34m in the 12 months to March 2022, compared with a loss of $2.62m in the prior period.


Savor adds $2m capital, new venues
31 May 2022   /

Savor adds $2m capital, new venues

Hospitality group Savor has posted an improved EBITDA of $3m for the year to 31 March, compared with $2m in the prior year.


Me Today in fresh $10m cap raise after loss widens
30 May 2022   /

Me Today in fresh $10m cap raise after loss widens

The healthcare and wellness group is downsizing its honey operations and raising cash to invest in its brands and international distribution.


Fonterra makes liquidity move after share price fall
30 May 2022  

Fonterra makes liquidity move after share price fall

Fonterra has moved to boost liquidity in its share trading platform, Fonterra Shareholders Market, in response to its sinking share price, which has wiped more than $1bn of its value since April.


Uncertainty means no clarity yet on profit – Restaurant Brands
30 May 2022   /

Uncertainty means no clarity yet on profit – Restaurant Brands

Restaurant Brands chief executive Russel Creedy says the company cannot yet commit to a profit outcome for the current financial year because of the uncertain environment.


Fonterra earnings slide on macro and margin challenges
26 May 2022  

Fonterra earnings slide on macro and margin challenges

The dairy giant’s earnings are down 15% year-to-date as margins are squeezed and its overseas markets are disrupted by China lockdowns, the economic crisis in Sri Lanka and the Russia-Ukraine conflict.


Record results: Zespri revenue tops $4bn, ANZCO profit doubles
26 May 2022   /

Record results: Zespri revenue tops $4bn, ANZCO profit doubles

Food exporters toast bumper results despite supply chain challenges and labour shortages.


Mainfreight makes hay from Covid disruption
26 May 2022   /

Mainfreight makes hay from Covid disruption

The transport and logistics company delivers an 89% leap in annual net profit with record revenue topping $5bn.


Mondelēz NZ navigates Covid to deliver revenue, NPAT rise
25 May 2022   /

Mondelēz NZ navigates Covid to deliver revenue, NPAT rise

The NZ division of the global confectionary giant managed to increase sales, offsetting rising costs and Covid disruptions.


Southern Pastures targeting $500m B2B sales with NZGFP – CEO Neil Senauer
24 May 2022   /

Southern Pastures targeting $500m B2B sales with NZGFP – CEO Neil Senauer

NZ Grass Fed Products, which sits alongside SP’s Lewis Road Creamery, is targeting growth through the wholesale and foodservice channels.


Bowler on MFB’s planned product scale-up, its share price, and proposed M&A
23 May 2022  

Bowler on MFB’s planned product scale-up, its share price, and proposed M&A

My Food Bag’s CEO explains why he thinks the company is undervalued, with its share price around half of what it was listed at.


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

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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.


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.


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 .


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.


NZ Coastal Seafoods’ Q4 revenue falls in transition from daigou
10 Feb 2022   /

NZ Coastal Seafoods’ Q4 revenue falls in transition 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

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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.


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

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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

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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

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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

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Zespri resumes USX trading
23 Apr 2021  

Zespri resumes USX trading

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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.


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

Speirs receives $229k windfall, reschedules Rosa payments

Speirs 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
8 Mar 2021   /

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

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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

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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

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Delegat Group eyes bigger harvest
25 Jun 2020  

Delegat Group eyes bigger harvest

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