New Zealand meat company PPCS has extended its takeover offer for rival Richmond for the eighth time.

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


Richmond’s stock rose last week to NZ$3.17 (US$1.84), which is 6 cents above PPCS’ offer price. The offer was due to close last week but has been extended to 23 May. Under the Takeovers Code, the last possible date that the offer can close is 19 June, which means the offer could be extended beyond 23 May, reported the New Zealand Herald.


PPCS, which has a 68% stake in Richmond, has been told by the High Court that if it does not gain 90% of Richmond it would lose voting rights on some of its shares the day after the offer closes. If that happens, it could leave PPCS with an active share of as little as 34%.

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