Open Country expected to pick up Synlait's North Island milk supply

An Open Country factory. (Image: Supplied)

Thu, 22 Aug 2024

BusinessDesk understands that Open Country Dairy is expected to sign a deal to purchase Synlait Milk’s North Island milk supply.Earlier this week, Synlait announced it would raise $217.8 million via a placement to its two largest shareholders – Bright Dairy and The a2 Milk Company.If approved, Bright will take a controlling stake by contributing $185m at an issue price of 60c.The a2 Milk Company will contribute $32.8m at an issue price of 43c to maintain its 19.8% stake, with minority shareholders having their stake diluted down to...

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