Synlait Milk’s Bright spark

Bright Dairy played a key role in helping Synlait grow. (Image: Synlait)

Thu, 22 Jun 2023

Synlait Milk first tried tapping the market for funds back in 2009. The upstart dairy processor had already come a fair way building a factory in Dunsandel in Canterbury and wanted to double capacity with a second plant, with a figure of $150 million bandied about. Back then, New Zealand’s capital markets were in a lacklustre shape. The global financial crisis has sapped investors’ confidence, dairy prices were in the doldrums, and Fonterra was still reeling from the San Lu melamine disaster. Enter Bright Dairy &...

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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 9:15am