Veritas buys Nosh for $1.77 mln

Mon, 08 Sep 2014

By Paul McBeth Sept. 9 (BusinessDesk) - Veritas Investments, which owns the Mad Butcher franchise business, has bought upmarket grocery chain Nosh Food Market for $1.77 million. The Auckland-based company completed the deal after all conditions, including Nosh shareholder approval, were satisfied, it said in a statement. The purchase price was about $1 million below net tangible assets, with $500,000 retained for 90 days until the balance sheet is verified. Veritas has met all of Nosh's trade creditors, but hasn't assumed any of the groce...

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