Sale and leaseback plan on table as Mainland Poultry’s losses mount

Mainland Poultry produces a third of the country’s egg production under the Farmer Brown and Woodland brands. (Image: Farmer Brown)

Denise McNabb

Fri, 05 May 2023

Rising egg production costs ahead of a ban on caged battery hens from January this year and grain price increases have hit the country’s largest egg supplier Zeagold Nutrition hard, with payments to suppliers rising by $35 million between 2019 and 2022.Zeagold, the trading entity for Mainland Poultry, produces a third of the country’s egg production under the Farmer Brown and Woodland brands.The latest overdue accounts filed to March 2022 show a $20.5m increase in supplier costs from the previous financial year alone to $170.9m.The...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Investments Free Money Answers

Where’s the best place to stash my cash?

Savings are for the money you want on hand, reliably, in case life changes.

Frances Cook 5:00am

On the Money

On The Money: Vitalis and Whineray hats, Luxon's kid-lash and more

Dileepa Fonseka 5:00am

Policy Opinion

UK real estate: We need to talk about capital gains taxes

The government levy is ineffective and driving up rents on property.

Bloomberg 5:00am

UK real estate: We need to talk about capital gains taxes

Sponsored

Cyber alerts in New Zealand on the rise

A shortage of security experts puts pressure on combating threats

Fortinet

Sponsored

Avoiding mistakes many investors make

Managing emotions key to securing long-term returns.

Milford

More Primary Sector

Primary Sector

Dairy Goat Co-op chair Campbell Storey to step down

He won't go until the annual meeting in September, however.

Riley Kennedy 02 May 2024

Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

Riley Kennedy 01 May 2024