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


Leading corporate bank backs Charlie’s

11 May 2006

Leading corporate bank backs Charlie’s

Premium beverage company Charlie’s Group Limited has reached agreement with ANZ to provide all banking facilities required for day to day operations and to underwrite future growth.

Chief Executive Officer Stefan Lepionka said ANZ understood the Charlie’s business proposition and was enthusiastic to be part of it.

“It is our anticipation that the flexible financing facilities provided in the agreement will meet all our funding needs in the medium term, including acquisitions, growing distribution and plant expansion.”

Earlier this year Charlie’s Group acquired the Phoenix Organics Group. It has also signaled that it may make further acquisitions to expand its beverage offering in New Zealand and Australia.

Prior to the agreement with ANZ, Charlie’s Group was ungeared and funded growth with shareholder’s equity.

“We are delighted to have the involvement and support of the leading provider of corporate banking services in New Zealand,” Mr Lepionka said.

ANZ Head of Corporate Banking Ross Verry said the bank was thrilled to become the primary banker for Charlie’s Group.

“We believe Charlie’s is an innovative and dynamic company with a strong market position and exciting prospects.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>


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>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news