Foodstuffs South Island spends $7m on ‘merger-related costs’

Foodstuffs South Island has spent millions on merger-related expenses. (Image: Supplied)

Thu, 03 Jul 2025

Foodstuffs South Island spent over $7 million on merger costs last year.In December 2023, Foodstuffs South Island (FSSI) and Foodstuffs North Island (FSNI) filed a merger application to the Commerce Commission.The application was denied in October last year. Both co-ops’ boards subsequently filed a Notice of Appeal with the High Court, and a court date has been set for March 2026.FSSI’s financial statements for the year to Feb 28 were released on the Companies Office on Thursday morning, over a month after its annual report wa...

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 }}

Economy

Independent review warm on ACC investment arm but eyes risk

A review of ACC’s investment arm issues warm findings but homes in on risk factors.

Staff reporters 1:55pm

Infrastructure

Court allows Port of Tauranga fast-track panel to proceed

Bay of Plenty hapū had been seeking interim relief as part of judicial review.

Oliver Lewis 1:20pm

Court allows Port of Tauranga fast-track panel to proceed

Markets

Bathurst fails to strike-out Talley's claims

Talley's is alleging Companies Act breaches by its coal JV partner.

Pattrick Smellie 1:15pm

Bathurst fails to strike-out Talley's claims

Sponsored

Global real estate without the passport or paperwork

A global ETF offers access to income-generating real estate like data centres, healthcare and logistics warehouses – all in New Zealand dollars.

Blackrock, Smart Invest

Sponsored

‘Make Today the Day’: Why on-the-job training is the key to NZ’s service recovery

Covid gutted New Zealand’s service workforce. Training is the fix – and the future.

ServiceIQ

More Retail

Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025

Retail

Warehouse reshuffles exec team

The Warehouse Group has reshuffled its executive team ahead of its leadership transition at the end of the month.On Friday, the retail group appointed Stefan Knight as chief financial officer. Knight will exit his role as financial director at Spark New Zealand and start on Aug 1...

Staff reporters 18 Jul 2025