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Completion of Acquisition of New Zealand Nature Co
August 29 2005
Completion of Acquisition of New Zealand Nature Company
The Board of Certified Organics is pleased to announce that it has completed the acquisition of the New Zealand Nature Company (NZ Nature).
The funds required for the acquisition by Certified Organics were successfully raised after the completion of equity and debt programmes last week.
NZ Nature is a Nelson-based, privately owned operation that markets New Zealand-made consumer products domestically and internationally, primarily through the Internet.
NZ Nature has sales revenues in excess of $4 million, and earnings before tax of $1 million a year.
NZ Nature’s substantial earnings and cash flow will enable the Certified Organics board to generate shareholder value through prudent reinvestment in the growth of the NZ Nature business, as well as the ongoing development and commercialisation of the existing pine extract-based domestic and agricultural control products.
NZ Nature sells products selected for its carefully targeted ranges including high quality clothing made from sheepskin, merino and possum wools and silks, as well as cosmetic and alternative health products, energy saving products, educational toys and Kiwiana.
ENDS
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