NEW ZEALAND: Unlisted North Meats ups stake in Richmond, dashes PPCS’ hopes
Unlisted meat processor North Meats today [Monday] upped its stake in takeover target Richmond to over 10%, making it impossible for rival processor PPCS to take complete control of Richmond. North Meats chairman Norman McRae insisted the acquisition, which more than doubled his company's stake in Richmond, was not a prelude to a takeover attempt: "We are not making a takeover bid for the company," McRae told Dow Jones Newswires. He acknowledged the deal would probably block a takeover bid by PPCS.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Who will buy Danone's Stonyfield business?
- Interview: "Disruptive" snack brand Hippeas
- Column: Why snacking is the new meal
- Unilever buys US condiments maker Sir Kensington's
- Nestle organic growth slows but beats expectations
- Dairy dampens Danone in Q1
- Icelandic to sell Saucy Fish Co. owner Seachill
- Ice cream helps Unilever sales, food flat