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Fonterra cleared to buy NZ Dairies, expanding presence in South Canterbury
Sept. 7 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, has been given antitrust approval to buy the South Canterbury milk processing assets of New Zealand Dairies, the Russian-owned company that went into receivership in May. “Comparing the ac...
Hart's Reynolds Group credit rating cut one notch on weak economy, slow integration
By Paul McBeth Sept. 7 (BusinessDesk) - Reynolds Group Holdings’ credit rating was cut one notch as the packaging company owned by New Zealand billionaire Graeme Hart's works to integrate last year's US$4.5 billion acquisition of Graham Packaging and keep its US$18 billion of de...
Warehouse FY earnings fall 14 percent as margins shrink in ‘mixed’ retail environment
Sept. 7 (BusinessDesk) - Warehouse Group, the biggest retailer on the NZX 50 Index, reported a 14 percent drop in full-year earnings, meeting its own guidance, and said it expects retailing to face "mixed" trading conditions in 2013. Profit before one-time items was $65.2 mill...
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