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May 16, 2002

NEW ZEALAND: Further obstacle to PPCS’s takeover bid for Richmond Meats

Hawkes Bay meat company Richmond Meats yesterday [Thursday] secured an injunction from the High Court in an attempt to prevent the southern cooperative PPCS from acquiring it. The injunction prevents PPCS “taking any steps to sell, buy, or transfer interests in Richmond shares” and has been imposed to give the High Court time to hear separate proceedings filed in April by Richmond and by a group of Richmond shareholders without the status quo changing. Proceedings will be held in Christchurch on 6 August.

Hawkes Bay meat company Richmond Meats yesterday [Thursday] secured an injunction from the High Court in an attempt to prevent the southern cooperative PPCS from acquiring it.

The injunction prevents PPCS “taking any steps to sell, buy, or transfer interests in Richmond shares” and has been imposed to give the High Court time to hear separate proceedings filed in April by Richmond and by a group of Richmond shareholders without the status quo changing. Proceedings will be held in Christchurch on 6 August.

The merger, which would combine two of New Zealand’s three largest meat companies, has been hotly opposed. PPC already holds a 16% stake in Richmond, and is seeking to buy out another institutional shareholder, Hawkes Bay Meats.

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Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
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Innovation Update Q2 2022: Meat and Meat Alternatives

Meat alternatives continue to push boundaries, as companies explore 3D printed, plant-based, and precision fermentation-based alternatives. As a result, shoppers are more open to experimental formulations that introduce new flavors to meat products, blur traditional food categories, or swap in new ingredient types. It is vital for their development that retailers acknowledge this range of emerging trends during these increasingly uncertain times. Brands must continue to understand how consumer needs and desires change, and offer a range of products that reflect the world around them, therefore developing purchasing and consumption decisions. Exciting non-traditional formulations are hitting the market - following the trajectories and target audiences of these launches will help other brands find their niche. Consult our report on Meat and Meat Alternatives, from the collection of >17,000 reports on GlobalData Explorer, to:  
  • Understand the current market dynamics of the Meat and Meat Alternatives Sector
  • Assess strategies implemented by companies to better penetrate the market
  • Understand the key themes in the market that these companies and their respective products appear to be targeting
  • Marketing / Advertising strategies being used by these players for specific products
  • Other segment-specific analysis (packaging, design, flavors etc.)
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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