N.Z. Future Forest Products Ltd acquires Claymark Group
Claymark is pleased to announce that its controlling shareholder has entered into an agreement with N.Z. Future Forests Products Ltd (NZFFP) to acquire the Claymark Group including all the operations in New Zealand and the United States. This transaction is the start of a new and exciting chapter for Claymark. Mark Clayton has led Claymark for 30 years and transformed the company into a global leader in high quality radiata pine wood products. Claymark has approximately 600 employees, operates six manufacturing sites in New Zealand and generates revenue of approximately NZ$185 million.
NZFFP is committed to the Claymark brand and continuing the focus on world class manufacturing, value-add wood products, global growth and product quality. NZFFP plans to make significant investments in Claymark to improve efficiency and increase capacity to meet global customer demand for high quality radiata pine products. Claymark will continue to operate as a stand-alone company with current management. Mark Clayton will leave his day-to-day executive role and become a non-executive Director of NZFFP once the transaction completes at the end of September 2019. NZFFP is a majority New Zealand-owned private forest products company with a strategy focused on adding value to New Zealand’s radiata pine resource for global export.
Claymark provides an excellent platform for NZFFP to build from over time. This is an exciting development for Claymark, NZFFP and the New Zealand wood processing industry.
NZFFP Press Release
Auckland, N.Z. [28th August 2019] – The board of N.Z. Future Forest Products Ltd (“NZFFP”) is pleased to announce that it has entered into a sale and purchase agreement to acquire 100% of Claymark Group Holdings Ltd (“Claymark”) from its controlling shareholder.
Claymark is a global leader in manufacturing high quality New Zealand radiata pine wood products. It has approximately 600 employees, operates six manufacturing sites in New Zealand and generates revenue of approximately NZ$185 million.
The transaction includes all of Claymark’s operations in New Zealand and the United States. It remains subject to certain conditions being satisfied prior to completion, which is expected to occur by 30th September 2019. Mark Clayton, who has led Claymark for 30 years, will be appointed as a non-executive director of NZFFP for 3 years as part of the transaction.
NZFFP managing director, David Henry, says:
“We are very pleased to announce this acquisition. Claymark is rightly considered to be one of New Zealand’s most successful wood exporters, with value-added products provided to international markets and well-established brand recognition amongst its customers for its precision approach to manufacturing. These characteristics are essential to NZFFP’s corporate ethos.
The board of NZFFP welcomes Mark’s expertise as a non-executive director as we undertake significant investment to increase efficiencies and production at Claymark to ensure that we satisfy increasing global demand for its products. NZFFP is committed to retaining the Claymark brand, maintaining its reputation for quality products and expanding its international export presence.”