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

 


‘Beautiful Couple’ of Beverage Industry Settled.


‘Beautiful Couple’ of Beverage Industry Settled.

It’s official. Premium beverage company Charlie’s has completed its acquisition of Phoenix Organics Limited, owner of the popular super premium beverage brand.

The purchase, which was made public in early December, brings together two of the country’s most recognisable beverage companies, in a move that will see the consolidated Charlie’s Group with an approximate annual turnover in excess of $20 million in its current state, and offer it unprecedented access to the route and café trade.

Taking over the Phoenix reins completes a whirlwind month for the fledgling Charlie’s stock. The public company also enjoyed its first annual shareholder meeting, and made a share placement to selected institutional and private investors following the Phoenix Organics announcement.

Charlie’s Chairman Roger Gower is delighted to have sealed a deal that many industry commentators believe will have wide-reaching ramifications for the premium beverage industry.

“This sends a clear signal to the other players in the market that we are serious about living up to our potential as New Zealand’s number one distributor of premium beverage brands,” he says.

“To have two New Zealand companies that have both altered the face of the local beverage business under one umbrella reinforces our commitment to quality and to delivering the goods to kiwi consumers.”

Mr Gower says at this point it will be business as usual for the Phoenix operation, with management and process expected to stay as is. He does suggest though that assets such as Phoenix’s production and warehousing facilities offer increased flexibility for the Charlie’s business unit.

Charlie’s CEO Stefan Lepionka suggests the company will now take a few breaths before continuing with consolidation plans in 2006.

“We are all pretty buggered to be honest. We’ve launched a whole new range of Charlie’s smoothys, added new products and sizes to our juice range, run a new, controversial advertising campaign and bought a fantastic company. Now is a good time to take stock,” he says.

He could be right about the last bit.

Charlie’s is required to make a final payment of $2 million relating to the acquisition of Phoenix Organics on February 28, 2006.

-ends-


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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>>

ALSO:

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>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news