4th July 2022 Mrs Higgins / Rangatira
The biscuit firm’s founders exit, leaving the investor mulling options – could a sale be on the cards?
Rangatira Investments is looking to raise $50m to support the on-going growth of the firm which owns food manufacturer Mrs Higgins.
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.
Private equity firm Rangatira Investments has seen its net asset value climb from $14.87 last year to $16.27 in the year to March 2022, reflecting a portfolio valuation of $288m.
The investor also says that its kiwifruit venture will soon start bearing fruit.
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.
The investor wants to bolster the cookie maker through acquisitions in what it calls a “fragmented industry”.