Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Carter Holt Harvey Sells Paper Distribution

Carter Holt Harvey Sells Paper Distribution Businesses

Carter Holt Harvey announced today the sale of its paper distribution businesses, Raleigh Paper in Australia and BJ Ball Papers in New Zealand, to Edwards Dunlop for A$61m (NZ$74m). The sale is conditional on finance and is expected to be effective 30 April 2002.

Chris Liddell, CEO for Carter Holt Harvey, said the sale reflects the company’s ongoing focus on refining its portfolio of businesses.

“Both Raleigh Paper and BJ Ball Papers have been consistent contributors to Carter Holt Harvey’s profitability over recent years. However we also take into account our ability to develop a leadership position and create growth opportunities.

“At a time of ongoing industry rationalisation, we determined that the potential of the businesses could best be realised by joining with a specialist company in the paper market such as Edwards Dunlop, who are the largest independent paper merchant in Australasia” said Mr Liddell.

The combination of the Edwards Dunlop and Raleigh Paper/BJ Ball Papers businesses creates a clear number two competitor to Paperlinx in the Australasian market, with a 20-25% share of both the Australian and New Zealand paper distribution markets.

Raleigh Paper and BJ Ball Papers operate primarily as wholesale paper merchants, buying paper from a variety of suppliers and selling and promoting it to printers, designers, stationery and form converters, label producers and retail and office supply distributors. Raleigh Paper operates from warehouses in Sydney, Melbourne and Brisbane, and BJ Ball Papers from warehouses in Auckland, Wellington, Christchurch and Dunedin. The acquired businesses will continue to operate as Raleigh Paper and BJ Ball Papers.

The businesses have a combined book value of A$52m (NZ$63m) and annual turnover of A$130m (NZ$157m). They employ 160 people.

- ends -

© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news