US produce company SK Foods International has increased its takeover offer for New Zealand vegetable processor Cedenco Foods.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


California-based SK Foods increased the offer from NZ$2.15 (US$1.24) per share to $2.30 per share. Shareholders Murray McPhail and Ian Urquhart, who together own 15% of Cedenco, have agreed to sell to SK Foods at the higher price. SK Foods has therefore increased its stake in Cedenco to 81%, reported the New Zealand Herald.


SK Foods had originally offered $2.05 per share, but this was raised in August to $2.15 after an independent report suggested the shares were worth between $2.14 and $2.74.


 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now