Veritas buys Mad Butcher business for $40 mln, flags public offer early next year

Thu, 20 Dec 2012

Dec. 20 (BusinessDesk) - Veritas Investments, the shell company listed on the NZX after Salvus Strategic Investments was wound up, has agreed to buy the Mad Butcher franchisor business in a $40 million cash and scrip deal, and will seek more funding from the public early next year. The NZX-listed firm will pay $20 million in cash and $20 million in Veritas shares in a deal that will made Mad Butcher owner Michael Morton the biggest shareholder in the company. Morton will remain chief executive of the Mad Butcher unit and join the Veritas boa...

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