Synlait Milk to buy Dairyworks for $112m

Synlait Milk to buy Dairyworks for $112m
Rebecca Howard
Synlait Milk announced the conditional purchase of South Canterbury’s Dairyworks for $112 million, subject to Overseas Investment Office approval.If approved, Dairyworks will operate as a stand-alone business under the Synlait umbrella, with its chief executive Tim Carter, reporting to Synlait chief executive Leon Clement.“The acquisition allows us to get closer to consumers, a key part of our long-term strategy,” Synlait said. Synlait says it has sufficient bank facilities in place to fund the acquisition and, given it is subject to OIO a...

More Primary Sector

Medicinal cannabis law changes expected to grow industry
Primary Sector

Medicinal cannabis law changes expected to grow industry

Law changes will make it easier and cheaper for medicinal cannabis to be exported.

Spring Sheep buys 12% stake in Melody Dairies
Primary Sector

Spring Sheep buys 12% stake in Melody Dairies

The sale by Pāmu was done at arm's length.

Riley Kennedy 05 Jul 2024
Reducing farm emissions is about future proofing: Nestlé
Primary Sector

Reducing farm emissions is about future proofing: Nestlé

Dairy makes up 21% of Nestlé's scope 3 or 'on farm' emissions.

Rebecca Howard 04 Jul 2024