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

 

FGC welcomes Nutricia’s investment

FGC welcomes Nutricia’s investment

The intended acquisition of New Zealand milk-drying and infant formula blending and packing capacity by French-owned Nutricia is a further indication of confidence in the New Zealand food and beverage industry, says the Food & Grocery Council.

Chief Executive Katherine Rich says today’s announcement is significant.

“This is great news for the industry and for New Zealand’s infant formula manufacturing capacity.

“Having such a renowned multinational company purchasing two New Zealand firms to ensure it has a major infant formula local manufacturing facility affirms once again that New Zealand’s dairy industry remains among the best and safest in the world.”

“Nutricia is to be congratulated.

“The agreement for the simultaneous acquisition of the spray dryer of Gardians, located near Balclutha, and the blending, packing and can-forming activities of the Sutton Group, of Auckland, is a significant move for them.

“It consolidates their footprint in New Zealand and affirms the strong links with the Otago region, where Nutricia has a long-standing heritage.

“Their Karicare brand goes all the way back to 1907 when Sir Truby King founded the Royal Society for the Health of Women and Children, later to become the Plunket Society,­ in Dunedin.

“This purchase will continue that heritage. No doubt Sir Truby King would be delighted by such a development in Otago.”

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Building Activity Down In September Quarter
The volume of building activity in New Zealand fell 8.6 percent in the September 2021 quarter, compared with the June 2021 quarter, Stats NZ said today. Residential building activity fell by 6.4 percent in the September 2021 quarter, while non-residential building activity fell 12 percent... More>>


Government: David McLean Appointed As KiwiRail Chair

David McLean has been appointed as Chair of KiwiRail Holdings Ltd, the Minister for State Owned Enterprises Dr David Clark and Minister of Finance Grant Robertson announced today... More>>


Dairy NZ: ‘More Milk From Fewer Cows’ Trend Continues In A Record Year
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>



Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>


Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>


Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>