Scales spends $104m to lift ownership in Australian joint ventures

Meateor Australia, founded in 2022, supplies quality pet food products. (Image: Unsplash)

Tue, 30 Sep 2025

Scales Corp is lifting its ownership in several Australian joint ventures for A$91.05 million (NZ$104m). Both Meateor Australia and Fayman International will become 100% owned subsidiaries, and ANZ Exports will now be 85% owned.The total price includes A$49.4m payable in cash today, A$5.25m payable in Scales shares to be issued about a month later, and A$36.4m payable in five equal instalments over the next five years, each due on the completion day anniversary.As a result of the acquisitions, Scales is now forecasting a net debt posi...

Subscribe to BusinessDesk

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

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

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].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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 }}

Retail

Finaccess bids to bucket KFC-owner Restaurant Brands

Finaccess Restauración wants the rest of the shares at $5.05 apiece.

Gregor Thompson 10:00am

Markets

ComCom gives provisional nod to Huntly deal

It comes on the eve of Govt decisions on the electricity market.

Ian Llewellyn 10:00am

ComCom gives provisional nod to Huntly deal

The Quiz Free

QuiznessDesk, Tuesday, Sept 30

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

The double edge of AI in cyber security

Artificial intelligence has the potential to become both a lifeline and a liability for modern organisations, as a revolutionary tool capable of spotting threats at lightning speed, but also the ultimate weapon in the hands of cybercriminals.

Spark

Sponsored

AI agents: opportunity or graveyard? Spark’s five-point playbook for success

Artificial intelligence agents – autonomous digital entities that analyse data, automate decisions, and act independently – are set to drive a new wave of business transformation.

Spark Enterprise