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Sale Of SealesWinslow To Farmlands
Before the sale can proceed, it must be approved by the Commerce Commission. It is anticipated that this regulatory process will take at least three to four months. Ballance will work closely with the Commerce Commission and Farmlands to ensure that all necessary steps are taken to meet regulatory approval requirements.
The divestment of
SealesWinslow will allow Ballance to focus on its core
business, and we will use the sale proceeds to pay down
debt,” says Matt Skilton – Ballance’s
CFO.
Following an approach by Farmlands
earlier this year, the Ballance Agri-Nutrients (Ballance)
Board has agreed to sell SealesWinslow, New Zealand's
leading animal nutrition company, to
Farmlands.
“Farmlands interest in acquiring SealesWinslow is a testament to the customer offerings and strategic assets of this business. This is also a great opportunity for the SealesWinslow employees to be part of a larger animal nutrition Group,” says Matt.
Throughout this ownership change, SealesWinslow will continue to deliver high-quality service levels and nutritional solutions to meet all customer needs, staying true to the legacy of excellence since its establishment in 1968.
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