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

 


Kono NZ LP buys Annie’s Marlborough

30 April 2014

Kono NZ LP buys Annie’s Marlborough

On 29th April, Annie’s Marlborough has been acquired by Wakatu Incorporation’s Kono NZ, after an agreement was made with Annie’s receiver PwC (formerly known as Price Waterhouse Coopers).

PwC Partner John Fisk, Receiver of Annie’s Marlborough Limited (In Receivership) says, "We are pleased to announce the sale of the Annie’s business to Kono NZ LP. This is a good result for the Annie’s Marlborough employees, Kono NZ and the wider Marlborough community. We were pleased to work with Kono NZ to finalise this sale, and are delighted that the Annie’s business will be able to continue following the receivership, albeit under new ownership."

The Chief Executive Officer of Kono NZ, Don Everitt says “We are excited about the future for Annie’s within the Kono basket. The range of natural fruit bars made by Annie’s Marlborough fits well in the range of food and beverage brands owned by Kono NZ. There are some great export opportunities for Annie’s in consumer markets around the world where natural and healthy products are highly valued. Kono is very pleased that ownership of Annie’s will remain in the Te Tau Ihu community.”

Kono NZ is the food and beverage operating business of Wakatu Inc. Wakatu Incorporation was formed in 1977 with an $11 million asset base of mainly land, and has grown into a $250m property, food and beverage business and export company. It has more than 3000 owners who descend from the original Maori land owners of the Nelson, Tasman, Golden Bay region.

Kono was formed in 2011 and employs more than 350 staff. It farms more than 500 hectares of land and sea and exports to more than 25 countries. Its focus is on high-quality wine, fruit and seafood products including local wine brands Tohu and Aronui wines.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news