Balle Bros buys Mr Chips from Simplot for undisclosed sum

Mon, 26 Aug 2013

Aug. 27 (BusinessDesk) – Pukekohe-based vegetable grower Balle Bros Group has acquired potato processor Mr Chips from a unit of Boise, Idaho-based JR Simplot for an undisclosed amount. The deal will return Mr Chips, which traded on the New Zealand share market from 1993 to 2008 when it was taken private by Simplot Australia, to local control for the first time in five years. Simplot paid about $71 million for the business in 2008, amounting to about 7.5 times earnings before interest, tax, depreciation and amortisation. Mr Chips had a profit...

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