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Receivers Announce Sale of North Island Mussel Processors
MEDIA RELEASE
2 October 2012
Receivers Announce Sale
of North Island Mussel Processors
William Black and Andrew Grenfell of McGrathNicol are pleased to announce that an unconditional agreement has been entered into for the sale of the business and assets of North Island Mussel Processors Limited (In Receivership) (“NIMPL”) to North Island Mussels Limited, a company owned 50% by each of Sanford and Sealord.
NIMPL owns and operates an automated toll mussel processing plant in Greerton, Tauranga incorporating leading edge automated mussel opening machines and technology.
Receiver William Black commented “This is a very pleasing outcome and enables the business to transition out of receivership and be placed on a stable footing ahead of the mussel processing season, which is due to commence later this month.”
The existing management team and staff of NIMPL will all be retained as part of the sale and the process for hiring new season staff has already commenced.
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