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

 


Next Announces Investment in NZ Healtheries

Media Release 31 October 2006

Next Capital Announces Investment in NZ Healtheries

Private equity firm Next Capital today announced its third investment, acquiring New Zealand health food and supplement manufacturer Healtheries. Next Capital will acquire Healtheries from associates of Lanes Capital which has owned the business for the last 16 years.

Healtheries was established in New Zealand in 1904. Originally a speciality flour miller the company has grown into a market leader in supplements, functional beverages and healthy foods. The company employs over 200 staff and exports its products to more than 20 countries including Australia, UK and Singapore.

Next Capital co-founder John White said “We are pleased to have secured this investment into Healtheries, a leading Australasian health food supplier. We were attracted by the company’s position at the forefront of product innovation and development as well as its highly experienced and well regarded management team.

“We believe there are many opportunities for growth in the rapidly emerging health and well-being sector in the Australasian market. The grocery supplement market has grown strongly in recent years driven by factors such as aging populations and an increased focus on prevention versus treatment,” he said.

Healtheries Managing Director Sarah Kennedy said: “Next Capital have a proven track record of partnering with businesses like Healtheries to assist them in fulfilling their growth objectives. The Next team bring significant value to Healtheries in terms of strategic planning and operational enhancements.”

Next Capital was established by three highly experienced principals – Sandy Lockhart; Patrick Elliott; and John White- who have between then more than 30 years of private equity experience and were formerly responsible for Macquarie Bank’s private equity division, Macquarie Direct Investment Limited.

Next Capital launched in October 2005 having raised an initial fund of $265 million from institutional investors. The Healtheries acquisition is the third investment for Next Capital with the company having acquired 75 per cent of New Zealand equipment rental and plant management services company, Hirepool and 55.6% of Brisbane-based steel manufacturer and distributor SteelForce earlier in the year.

At Macquarie they were responsible for a range of successful investments including: JB Hi-Fi; Invocare; The Reject Shop and CH4 (an ASX listed coal seam gas producer).


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news