CAM takes 19.9% holding in Charlies'
31st August 2006
Collins Asset Management takes 19.9 percent holding in Charlies’ Group
Auckland-based investment company Collins Asset Management has become the largest shareholder in premium beverage company Charlie’s Group Limited.
Collins became a substantial shareholder in Charlie’s earlier this year when it subscribed to a placement of shares made to complete the purchase of the Phoenix Organics group. It increased its holding in May, and has now done so again through a series of on-market purchases, to 19.9 per cent.
“We regard this as a long-term strategic stake in a company with excellent management, strong brands and a global growth strategy,” says Tim Cook, Managing Director of Collins Asset Management.
“This is not a takeover play as suggested in some media today. In reality, the more we have become involved with Charlie’s, the more impressed we are with the high calibre of its people and products. There is a strong global trend for clean, honest and healthy products, and Charlie’s is superbly positioned to sell into this trend. This is a very exciting prospect.”
Mr Cook was appointed a Director of Charlie’s Group on 28th March 2006.