The company’s Kitchen product add-ons help boost average order value as customer numbers are buffeted by Covid during FY22.
Lion is close to completing a reshaping of its NZ operations, allowing it to emerge from Covid concentrated on core.
The seafood supplement specialist has booked a strong start to the year with revenue jumping 242% from the same quarter in 2021.
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.
The dairy company taps a former colleague of boss David Bortolussi to become its new finance lead.
The value retailer says it is “seriously considering” making more grocery options available.
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.
A “phenomenal” Q3 performance from its Campbell’s soup brand and the acquisition of 180 Degrees is boosting the company’s FY22 numbers.
SeaDragon has signed a new secured loan agreement of $500,000 with its majority shareholder, Pescado Holdings.
New Zealand King Salmon has closed its $60.1m underwritten 2.85 for 1 pro rata rights offer.
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 has dropped its forecast milk price range for the season from $9.30 – $9.90 per kgMS to $9.10 – $9.50 per kgMS.
The watchdog fears Life Health Foods’ proposed takeover of plant-based rival Chalmers Organics will substantially lessen competition.
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.
Healthcare and pet food company Ebos Group says a growing pet population and the premiumisation of products will help support its pet food business.
Its New Zealand business could see H2 earnings drop almost 30% due to escalating costs, even as grocery prices rise.
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.
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.
NZ sales were flat as Omicron disrupted store opening hours and the sales mix, particularly in Auckland.
Scales Corporation has declared a fully imputed final cash dividend for the 2021 financial year of 9.5 cents a share.
The deal to acquire the 10-strong national portfolio falls over after failing to attract an equity backer.
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.
The High Court has issued final orders approving the scheme of arrangement governing Australian fuel retailer Ampol’s $2bn purchase of Z Energy.
Marlborough Wine Estates Group Limited says it expects to make a net profit after tax of between $0.3m and $0.4m for the year to June 2022. The result turns around MORE »
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 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.
Transport and logistics specialists Move Logistics Group has applied for dual listing on the ASX, alongside its NZX listing.
Investment in sales and marketing rose by more than $7m, contributing to flat pretax profit in 2021.
Kiwfruit marketer and exporter Zespri has lifted its annual trading halt.
Southern Lamb Investment’s proposed takeover of Southland meat processor Blue Sky has backing from shareholders holding 59.27%
The salmon farmer expects many roles to go via natural attrition, as it reduces its harvest size from 8,000 to 6,500 tonnes.
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.
Alongside the capital raise, the company is making structural changes to its farming model, slashing costs and shedding jobs.
The company says it will make a “material announcement regarding its full year results and a potential cap raise”.
The NZ divisions of the global Bakels group turned in solid performances in 2021.
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.
The iwi-controlled entity makes its first foray into aquaculture as part of a jv with private equity.
Southern Lamb Investment’s proposed takeover of Southland meat processor Blue Sky has backing from shareholders holding 56.79%.
Shares rally as the meal-kit company offers an early look at revenue and EBIDTA.
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.
New Zealand Coastal Seafoods Limited is raising $1.5m from new and existing shareholders.
Independent directors and advisers say Southern Lamb’s $3 offer price falls short of recognising the full value of the Southland meat processor.
The dairy company’s turnaround is gaining traction with its ingredients business leading growth.
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.
Southern Lamb Investments’ takeover offer of Blue Sky Pastures has gone unconditional after receiving more than 50% share acceptances.
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.
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.
Healthcare and pet food company Ebos Group has been cleared to buy rival company LifeHealthcare.
The completion of Auckland pub group Good Spirits Hospitality’s conditional takeover of restaurant owner Nourish Group has been delayed until Q2.
The diversified agribusiness says it is looking at a number of investments to boost its ingredients business.
Mt Cook Alpine Salmon’s quarterly auction has gone live on Catalist .
Kiwifruit grower Zespri will go into a trading halt on the Unlisted Stock Exchange from tomorrow at 5 o’clock for three weeks.
Good Spirits Hospitality has agreed a waiver with its lender Pacific Dawn in respect of the interest due and payable for the quarter ended 31 March 2022.
Auckland-headquartered international coffee chain Cooks Global Foods plans to consolidate its shares, as well as change its name.
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.
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.
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.
A higher milk price heaped pressure on the dairy co-op’s foodservice and consumer margins, leading to a fall in interim profit.
Fonterra will shortly begin recruiting to replace Marc Rivers, who has resigned after four years with the co-op.
The current shareholders will be able to cash out of the company, currently generating nearly $40m in revenue, via the new capital platform.
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 has listed on the Australian Stock Exchange, raising over A$5m from its initial public offering.
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.
Dairy giant Danone has become the largest certified B Corporation food and drink company in Australia and New Zealand.
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.
Lamb processing company Blue Sky Meats says it is potentially the target of a takeover.
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 Group has called a special meeting for Friday 18 March to seek approval from shareholders for a $6m placement of additional share capital.
The move is understood to affect only a small amount of product, primarily butter.
The produce grower and exporter suffers from a tight labour market, poor weather, and supply chain disruptions.
Rising costs saw some margin erosion, particularly in Australia and New Zealand.
The listed companies brush off Covid-19 chills as they look to grow via distribution deals and acquisitions.
Case sales across Australia, NZ and Asia Pacific jumped 14% but it wasn’t enough to make up for increased costs.
Zespri is forecasting its total fruit and service payment for the 2021-22 season to be $2.38bn, up from $2.25bn last season.
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.
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.
The company’s food ingredients business saw FY21 earnings jump 52%.
The company says it wants to consolidate ownership of the mānuka honey sector to generate operating leverage and drive “higher category standards”.
Foley Wines half-year profit has risen 37.7% to $3.5m as it pushes further into the premium market.
Its Australian market share grows, but a wobbly US performance continues, and in-roads are made in China.
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.
The company says the results are inline with expectations and that it has made progress on its turnaround initiatives.
The freight carrier, which recently bought Big Chill and ProducePronto, says it is open to complementary acquisition opportunities.
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.
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 is selling down its 100% ownership of the Global Dairy Trade platform, bringing in the European Energy Exchange and the New Zealand Stock Exchange.
Strong sales of its premium pet food brands has boosted revenue at Ebos Group’s animal care division.
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.
Strategy refresh work continues ahead of a June announcement, as Q1 prices and volumes improve on last year.
But the company says it is seeing benefits from a renewed focus on the domestic market and a sales drive overseas.
Seeka has completed its acquisition of Gisborne-based New Zealand Fruits in a deal that values the latter at $21m.
Its NZ vaccine mandate has kicked in and navigating constraints due to Omicron-enforced absenteeism is cited as its top priority.
New Zealand King Salmon shares have slumped 15% after the company warned of lower earnings.
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 says it has entered an amalgamation agreement to acquire Gisborne packing business New Zealand Fruits Limited.
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.
Falling sales and rising operational expenses eat into pretax profit, even as it made saving on the products it sells.
Healthcare and animal care company Ebos Group is buying Australian peer LifeHealthcare for A$1.17bn ($1.3bn). Ebos, which owns pet food brands Black Hawk and VitaPet, said today that it will MORE »
Fonterra shareholders have overwhelmingly backed changes to the co-op’s capital structure with 85.16% of farmer votes supporting them.
New Zealand King Salmon and Scales have upgraded their earnings forecasts citing improving conditions and strong ingredients performance respectively.
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.
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 has made a last-minute takeover offer for pharmacy group Australian Pharmaceutical Industries for A$871m (NZ$907m).
George Weston Food says it is making the investment in current or planned activities across New Zealand and Australia.
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 signals a holding pattern while UK-heavy CGF rides the first wave of the global recovery.
The healthcare and wellness company turns to shareholders to stump up funds because of “cashflow pressure” following its King Honey acquisition.
The salad supplier grapples with increasing costs and conducts a review of margins to ensure acceptable returns.
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.
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.
The meal kit company moots an M&A-fuelled, vertically-integrated future.
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.
Hospitality group Savor says it has missed out on around $4m from the Delta outbreak.
Mussels were the hardest hit of Sanford’s three divisions, with rebuilding profitability a priority for 2022.
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.
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 is sticking to forecast earnings before tax of $8m for FY22 but warns of uncertainty.
The company has unveiled its new strategy to return it to the high-growth business it was pre-Covid.
Tony Falkenstein’s Just Life Group will pay a final dividend of 1.4 centre a share for the year ended 30 June 2021.
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.
The Auckland pub group gobbles up Nourish in a “transformational growth opportunity” creating one of New Zealand’s largest hospitality operators.
The iwi’s seafood business sees operating profit leap 37%, offsetting a poor FY21 for honey and farming.
Supply and demand imbalance as well as a diversified global footprint work in favour of logistics company Mainfreight.
Seeka says all the conditions of its $6.55m deal to acquire Kerikeri-based kiwifruit grower Orangewood Limited have now been met.
Fonterra’s proposed changes to its capital structure will be put to a shareholder vote on 9 December.
Z Energy has seen record interim food and beverage sales at its Z Espress stations.
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.
The baking behemoth that also owns pie company Big Ben secures sign-off from the Commerce Commission to buy rival Dad’s Pies.
New Zealand’s largest kiwifruit grower says it has negotiated an increased debt facility of $190m, up from $152m.
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.
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 will ramp up distribution of the boutique brand into mainstream grocery retail across the country.
The produce giant will use the cash to fuel its growth strategy, as it faces a profit squeeze from Covid-19.
Food firms Fix & Fogg and Spring Sheep Milk have made the Deloitte Fast 50 index, coming in at rank 22 and 24 respectively.
Lockdown helped drive growth in the supermarket group’s Q1 results with e-commerce surging.
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.
New Zealand’s biggest farming business Pāmu is borrowing $85m from Westpac via a three-year sustainability-linked loan.
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 says it has delivered solid sales growth for its third quarter despite Covid store closures in New Zealand.
New Zealand’s largest kiwifruit grower has upgraded its profit guidance for FY21.
Healthcare and animal care company Ebos Group says its new A$80m pet food factory will soon start manufacturing its Black Hawk products.
More than four years after premium supermarket chain Nosh went under, the receivers have published their final report.
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.
The meal kit company says it raised prices this month to offset increased ingredients and labour costs.
The produce giant warns its FY21 profit could fall as much as 76% from the $16.6m it posted in 2020.
The Taranaki-based medicinal cannabis and hemp producer’s shares start trading on the exchange from 11am Thursday 21 October.
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.
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 has reported its first quarter EBITDA improved by 10.6% compared with Q1 last year.
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.
The new business would be a top three wholesale pie company in NZ but it wouldn’t weaken competition, says George Weston Foods.
Shipping issues, storage concerns and absenteeism created an “unusual” year for Blue Sky Pastures.
Tony Falkenstein’s Just Life Group says Auckland’s ongoing lockdown will affect the company’s results.
Both firms manufacture and supply savoury pies and sausage rolls in NZ.
Pavé clinches the contract to manage New Zealand sales for the plant-milk giant in the fast-growing category.
Tony Falkenstein’s Just Life Group has acquired supplements maker Intenza New Zealand.
A2 “considers that it complied with disclosures notifications at all time,” following a class claim filing in Australia alleging misleading or deceptive conduct.
Lockdowns, lower demand for bulk products, and labour costs all eat into the supermarket salad supplier’s bottom line.
Seafood has “sprung back with a vengeance” helping the iwi’s operating performance, says company chair Mark Tume.
Indevin New Zealand has completed its purchase of 100% of the shares of Villa Maria Estate Limited.
Villa Maria was valued at $190m for its sale to Indevin Group in early August.
With demand now exceeding supply and fish sizes recovering, the salmon company signals a second half revival.
The meat exporter is driving into e-commerce in the US and is looking to join big online marketplaces like Amazon.
The loss-making speciality cheese plant is to close until FY24 after dragging down Synlait’s consumer food division.
Miraka’s boss will join struggling Synlait in January to try and bring the dairy business back into the black by FY23.
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 Espresso shareholders Michael and Jane Allpress are winding up their holding company with just over $100m in assets left, mostly in cash.
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.
The healthcare and wellness company says sales of King Honey product will be “considerably less” than expected.
Covid-19 has changed consumer behaviour helping to drive Fonterra’s consumer brands, says CEO Miles Hurrell.
Winemaker Delegat Group says it will invest $29.7m in FY22 to provide earnings growth in the years ahead.
A strategy reset will see billions invested in “differentiating NZ milk on the world stage” to drive the co-op up the value chain.
Th fishing company pleaded guilty to a charge of exposing workers to risk of death or serious injury.
Ongoing lockdowns in Australia and New Zealand are creating challenges including increasing operating costs, says Restaurant Brands. “However, there have been opportunities with increased focus on takeout and delivery channels MORE »
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 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 has confirmed plans to develop a new dairy-processing facility in Waikato after exiting its ownership of Open Country Dairy earlier this year.
Seeka has made an offer to acquire Kerikeri-based kiwifruit grower Orangewood Limited.
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.
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.
Manuka honey exporter Comvita has appointed a trio of new board directors, namely Bridget Coates, Yawen Wu and chief executive David Banfield.
The reformulation of Countdown’s own brand products sees 141 tonnes of sugar removed over three years.
Synlait Milk has sold its Auckland premises at Richard Pearce Drive for $30.05m and will lease back the property.
The move to “review and reset the structure of the business” could see as many as 150 jobs go at the dairy company.
Former Countdowners find new homes, while a COO and a CEO get bumped up the ranks 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.
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 Hospitality has appointed commercial lawyer and experienced director John Seton to its board effective immediately.
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 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’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.
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.
Manuka honey supplier Comvita says it will acquire up to 350,000 of its shares, which are currently trading at about $3.65.
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.
A smaller vintage sees the value of exports drop 3% just as industry achieves its 10-year $2bn goal.
The Otu Estate owner counts the cost of a smaller 2021 harvest and investment into growing its branded wine sales.
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 Hospitality has reported a provisional net loss after tax of $670,000 for the year to June 2021, better than the $5.8m loss it made in FY20. Total revenue was down MORE »
Revenue was down 6% in FY21, although online sales jumped more than 30%.
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.
Delegat Group and Foley Wines both deliver record operational results, despite pandemic disruption.
The prolonged impact of Covid-19 and a rapidly changing China market has prompted the company to launch a growth strategy review.
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.
The Christchurch investor follows its $30m purchase of Original Foods by acquiring the iconic dessert maker.
Diversified focus put agribusiness on track to to deliver full year net profit of between $32 – $37m.
First half sales jump 41% and underlying net profit doubles on the back of Covid-free trading in NZ and Californian KFC deal.
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.
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.
The news follows Bryan Mogridge’s appointment as executive chair of the omega fish oils refiner.
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.
Operating costs skyrocketed at the nutritional ingredient manufacturer during the six months to June.
My Food Bag has launched a range of products as part of drive into New Zealand’s $37bn retail food sector.
Summer storms, supply chain disruption and labour shortages all weigh on first half performance.
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.
So, how much money did the largest supermarket group in NZ make in the year of Covid?
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 NZ has announced its third South Island location, with a restaurant planned to be open in Dunedin by the summer.
Zespri says its Horizon Programme to upgrade its ageing internal systems and processes will cost about $160m over the three- to four-year life of the project. The co-op said on MORE »
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.
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.
International fresh produce company T&G Global’s majority shareholder, German multinational conglomerate BayWa AG, has transferred its shares to BayWa Global Produce GmbH.
Coffee chain franchise company Cooks Global Foods Limited is working towards releasing its annual report to market on Friday 30 July.
Organics pioneer Noel Josephson has set up his nearly 40-year-old firm with new leadership and a plan to expand.
Farmer feedback set to shape Fonterra’s revised capital structure proposal, according to the dairy co-operative.
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 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.
Its Asia Pacific division will be split three ways in an effort to revive growth.
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.
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.
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.
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 bosses remain committed to a turnaround at the omega-3 oil producer despite “unsatisfactory” full year results.
Lion reveals 2020 sustainability scorecard and commits to action on value chain carbon emissions.
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 is offloading its two joint venture farms in China to Singapore-based AustAsia Investment Holdings for $163m.
It’s back to basics for the honey company, which the CEO says had become overly complex and ‘disconnected from consumers’.
The investor also says that its kiwifruit venture will soon start bearing fruit.
Me Today shareholders have approved the $36m purchase of King Honey with an overwhelming 99.99% vote in favour.
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 has restructured its borrowings from majority shareholder Pescado securing $500k via a mandatory convertible loan note.
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.
The fisheries company expects to come in ahead of $26m full year profit guidance despite disruption at Sealord.
Wellington-based Rangatira Investments is back in the black posting a net profit after tax of $9.9m up from a loss of $1.3m last year.
Hawke’s Bay winery Sacred Hill has been placed on the market by its receivers.
Katherine Turner is to leave the seafood company in September after three years in the role.
Me Today announces opening of a $3.75m offer to retail investors as part of its plan to raise up to $15.75m to part-fun its $36m purchase of King Honey.
South Island Office invests $30m in its first food acquisition and says there are more deals in the pipeline.
Food giant Goodman Fielder has introduced a new sustainability strategy that will see it use 100% recyclable packaging by 2025 and halve its food waste by 2030.
Around 4,000 Fonterra co-operative members have so far attended a consultation meeting or joined a webinar about the proposed changes to the group’s capital structure, according to an update from the co-op’s council.
New Zealand King Salmon has updated the market with what it describes as “problematic” trading in the first half of the year and issues plaguing some of its salmon stock. MORE »
Me Today’s proposed $15.75m capital raise which will part fund its $36m purchase of King Honey from Sky co-founder Terry Jarvis has won support from wholesale investors.
Master franchiser and food distributor Cooks Global Foods was pushed further into the red in the year to 31 March posting a net loss of $2.8m – up from $0.2m last year – as Covid took its toll on international operations.
Healthcare company Me Today has expanded its existing lifestyle, health and wellness businesses with the $36m purchase of manuka honey producer King Honey from Sky TV co-founder Terry Jarvis.
Christchurch biotechnology company PharmaZen, which trades as Waitaki Biosciences, has made two appointments to its board.
The kiwifruit giant said it delivered record per tray returns across all categories in the 2020/2021 season.
Blis delivers earnings of $1m – at the lower end of its guidance – in its annual results.
Fonterra will contribute $12bn to the New Zealand economy in the next season, says the co-op’s chief executive, Miles Hurrell.
JLG has raised more than $4m in a rights offer launched to part-fund its $17m acquisition of supplement provider About Health.
The dairy company now forecasts a full year loss of between $20m – $30m in 2021.
Eight senior staffers have accessed Comvita’s new share purchase and loan scheme which has seen the company grant loans totalling $2.28m .
Meal kit company posts 24% revenue rise and assures investors it is positioned to deliver on IPO expectations.
The Swedish oat milk company has become the latest plant-based IPO sensation in the US.
Seafood company reports 15% drop in net profit at the half year as it continues to battle with Covid-19 disruption to freight and foodservice.
All eyes will be on the meal kit company to see if it meets its forecasts after a disappointing debut on stock exchanges on both sides of the Tasman.
The company which owns well-known wine business Villa Maria has been placed into receivership.
Manawatu/Rangitikei-based food company Speirs Group has replaced $2.5m of redeemable preference shares set to mature in September with $2.2m of fresh RPS, with a 2025 end date.
CFO’s departure follows that of chief executive Leon Clement and director of operations Mark Toomey.
The CEO says global investor KKR will accelerate the premium pet food firm’s international expansion.
New Zealand seafood company Sanford has appointed Mark Cairns as its newest board member.
The former darling of the NZX was forced to slash its revenue forecasts and write down the value of its assets.
Listed Australian supermarket chain Woolworths has set a date to complete the spin-off of Endeavour Group, its drinks and hospitality business – a move first mooted back in July 2019.
Seeka has been officially welcomed to Ōpōtiki to celebrate its purchase of Ōpōtiki Packing and Cool Storage.
The deal catapults Australian biscuit giant Arnott’s into NZ’s premium cracker category.
Preferred option for capital structure review would dismantle or cap fund that gives outside investors access to co-op.
Fonterra yesterday went into a trading halt ahead of an announcement about its capital structure, expected this morning.
The offer is priced at a 27.1% discount.
A certificate of amalgamation is imminent, formalising the kiwifruit specialists’ deal.
Open ocean farm first could be followed by other developments off the South Island’s east coast.
The Hawke’s Bay cider company has partnered with the airline to become the exclusive cider on all flights.
The Japanese drinks giant says it’s impressed by the coffee maker’s premium brand and the two firms are “a great fit”.
Tony Falkenstein’s Just Life Group says it completed its purchase of About Health on Friday.
Agribusiness Scales Corporation has declared a fully imputed final cash dividend of 9.5c a share for the 2020 financial year.
OIO approves T&G Global purchase of an 11-hectare Hawke’s Bay site to grow more Envy apples.
Synlait Milk has reset its 2018 inaugural emissions reduction targets.
Relative newcomers rub shoulder with FMCG stalwarts in the inaugural rankings.
The beer producer sets itself new sustainability targets as it builds on its ambition to halve its emissions by 2030.
New approach in Australia means ramping up online sales and securing a new distributor.
Just Life Group is investing $17m to buy NZ supplement provider About Health.
Christchurch biotechnology company PharmaZen has suffered a difficult first quarter dogged by delays to its $8m capital investment programme and resultant capacity constraints. In its annual report the company, which MORE »
Zespri resumed trading on the USX at 9am Friday 23 April. The company halted the trading of its shares on Wednesday 7 April to allow the finalisation of its 2021 MORE »
The phenomenal rise of the Swedish oatmilk juggernaut is detailed ahead of a potential $10bn listing on the NYSE.
Nestle has pledged that its popular chocolate brand, KitKat, will become carbon neutral by 2025.
The co-op says the preliminary result compared to last year’s range of $300m-$305m.
The group says the vintage would deliver “excellent quality wines” for its brands.
Grower support and banking thresholds are the only hurdles remaining.
A year on from taking the helm of Frucor Suntory, chief executive Darren Fullerton talks about the greatest opportunity for the FMCG giant, long-term planning and building resilience.
A poor harvest is set to put a dent in Marlborough Wine Estates’ performance this year.
Seeka is a step closer to buying kiwifruit rival Ōpōtiki Packing and Coolstorage.
It will be the firm’s first publicly available results since its listing.
Manuka honey company Comvita has revised its earnings forecast up on the back of strong growth in China and the US.
The dairy companies saw share prices slip following news that Synlait’s boss is leaving.
Seeka’s proposed $60m purchase of rival kiwifruit company Opotiki Packing and Cool Storage would create New Zealand’s largest kiwifruit grower with annual revenue of £300m – but it is far from a done deal.
The tie-up is a shot in the arm for PURE NZ Ice Cream after its foodservice and tourism channels were hit by Covid.
From spring water chiefs to supermarket dynasties – the annual rankings are a smorgasboard of F&B billionaires.
Zespri has been placed in a trading halt on the USX to allow the finalisation of the 2021 Gold3 and Zespri Red tender process.
Annual profit rises to $5.2m, but Covid delays push out development of a new Rolleston factory.
Fonterra has sold its two China farming hubs in Ying and Yutian to Inner Mongolia Youran Dairy Co.
Omega fish oils refiner SeaDragon has issued Pescado Holdings limited with 20 million shares for $4m of loan notes from the shareholder.
Spiers Group says it received an unexpected cash dividend of $229,127 from its investment in Equipment Leasing and Finance Holdings Limited.
The meat company saw net profit dip to $65m, skirting any deep impact from the pandemic.
The salmon farmer posts a seven month net loss of $7m, as it changes its reporting date.
The food giant plans to relocate its Wiri confectionery manufacturing to Australia.
Significant Covid-19 induced uncertainty and volatility will continue, says the milk powder producer.
Terra Vitae Vineyards is reassuring shareholders not to worry about speculation Villa Maria Estate Limited may be bought.
The Bay of Plenty-based company is looking to expand its footprint in the kiwifruit sector.
Reducing waste, carbon emissions, water usage, sugar and non-recyclable packaging form the backbone of Frucor Suntory’s ten-year sustainability plans.
An aggressive growth strategy underpins the kombucha maker’s forecast 325% jump in annual revenue.
The agribusiness confirms it is in the running to buy Villa Maria in what would be its first foray into wine.
Zespri is progressing its plan to move against the unlawful growing of kiwifruit in China as illegal plantings increase.
Mark Toomey has resigned from the specialist diary company after just over a year in the role.
Huge losses are forecast for the New Zealand apple and pear industry, according to New Zealand Apples and Pears Inc.
Lower prices and higher costs will hurt performance, says the seafood company.
The co-op said it was “pleased” with its results as the previous period’s earnings were inflated by asset sales.
The co-op’s shareholders have indicated support for an overhaul of the dairy giant’s structure.
Moa’s former hospitality division is adding three Auckland restaurants to its stable.
But the company says it is “delighted” to raise $1.34m, despite a deeply discounted SPP.
Hawke’s Bay apple producer Rockit Global completes a capital raise bringing in new investor Ngâi Tahu Holdings.
My Food Bag’s debut on the NZX Main Board last week was weaker than hoped, falling to as low as $1.69.
Trinity Hill has new ownership after being purchased outright by four local investors.
The company suffered a 35% drop in interim profit in what it described as a “challenging” first half year.
The Te Puke-based produce handler more than doubled its annual profit in FY20.
The honey company took “radical” steps to recover from a $13m interim loss.
A “challenging and disruptive year” pushed revenue and profit down.
Seeka has announced a 12 cent dividend, payable on 30 March 2021.
Fonterra has lifted the bottom end of its 2021 forecast earnings guidance and narrowed the range to 25-35 cents per share, from 20-35 cents per share.
Strong global sales growth saw the winemaker’s interim profit leap 31% in a record-breaking run to the end of 2020.
Increased airfreight costs, discounting and lockdowns all ate into the salmon farmer’s profit.
US billionaire Bill Foley’s Kiwi company suffers sales falls in its largest overseas markets.
The wine company says it is looking to raise the new funding to progress growth opportunities in NZ.
The company is on track to dual list on 5 March with a post-IPO market cap of $449m.
NZ King Salmon, Delegat Group, and Comvita are this week reporting their six month interim financial results.
The company is jettisoning its eponymous brewing business to focus on its hospitality division under the new name Savor.
Comvita has goal to grow its digital sales to 50% of the total group by 2025.
The announcement follows Richard Wyeth’s departure in October.
It comes after the wine firm had its first-ever profitable year as an NZX listed company.
A2 Milk Company has stopped the trading of its shares on the NZX and ASX while it revises its earnings guidance. The dual-listed firm said this morning that the halt MORE »
The seafood firm is on a mission to rebuild profitability.
The Te Puke-based company said the dividend would be paid on 27 January 2021 to all holders of ordinary shares.
A US-based family buys into the fish oil company in an off-market deal.
The investor wants to bolster the cookie maker through acquisitions in what it calls a “fragmented industry”.
The kiwifruit exporter gets the go-ahead for a sale and leaseback deal, unlocking more profit for the year.
Diversified agribusiness group will pay 9.5c interim dividend and affirms previous guidance.
Strong demand for NZ dairy has seen the co-op lift its milk price forecast and report Q1 earnings of $250m.
Queenstown-based Wayfare is selling its brewing interests to local restauranteurs.
Moa Group Limited has reported an after tax loss of $415,000 for the six months to 30 September 2020.
The dairy company successfully raised the money after closing an oversubscribed $20m share purchase plan.
A date has been set by the group, in an NZX announcement made on Thursday.
Online growth and investment in technology and sales teams also helped the winemaker to a record year.
Diversifying its product ranges, customers and target markets has created a more sustainable business, says Synlait chief executive Leon Clement.
Mānuka honey company Comvita says it reported strong sales in the online shopping event.
The dairy company says it expects an uptick in activity in the second half of FY21 despite continuing uncertainty.
Synlait Milk has added $180m to its coffers after successfully completing a discounted share placing.
The company will use the money to complete its investment strategy, pay down debt, and strengthen its balance sheet.
Synlait Milk has stopped the trading of its shares in both New Zealand and Australia ahead of an announcement of a significant capital raise.
Fonterra is on the “home straight” of its turnaround and well-positioned to face continued Covid-19 induced global uncertainty, according to chief executive Miles Hurrell
Villa Maria Estate is selling off 31 hectares of land in Māngere to raise funds for global expansion.
The fishing company says it has suffered falling prices, slow sales and poor catches.
Synlait Milk says it has signed a new manufacturing supply deal with “an established, global category leader” but it has not named its new customer.
It comes as demand for the variety across the globe remains strong.
The dairy co-op returns to sustainable earnings as it continues to tackle environmental challenges.
During the pandemic the company saw a “rapid decline” in sales.
Zespri and Synlait have been named as finalists in the Deloitte Top 200 Awards for 2020. The kiwifruit co-op has been nominated for two awards, Company of the Year and MORE »
Last year its vineyards produced 17% below the winemaker’s budgeted target.
Synlait Milk has set the course for a year of consolidation following a period of substantial investment.
Comvita has reported “strong” results in its first quarter, posting double-digit revenue growth.
Marlborough Wine Estates has posted its first-ever profitable year as an NZX listed company.
Dairyworks has sold its Deep South ice cream brand to seafood giant Talley’s for an undisclosed sum.
Over 83 million shares were distributed at $0.03c per share, according to an announcement from the Omega fish oil producer.
Happy Valley Nutrition has secured Overseas Investment Office approval to develop a dairy factory in the Waikato.
Palliser Estate Wines says its FY20 results were better than expected, despite numerous Covid-19 impacts.
Fonterra is planning to pay down debt with $555m from the sale of farms it has developed in China.
Fonterra has posted an after tax profit of $659m for the year to July 2020, a $1.3bn turnaround from the $605m loss it made the previous year.
California-based Gallo Winery has bought New Zealand wine brand Nobilo for $202m from US owner Constellation Brands. Gallo Winery is one of the largest family-owned wineries in the world with MORE »
Wine maker Delegat Group has lifted its expectations of the size of its grape harvest and increased revenue. The good news has boosted the share price to a high of MORE »