A2 Milk completes purchase of Mataura Valley Milk

A2 Milk completes purchase of Mataura Valley Milk

A2 Milk said it had completed the acquisition of a 75 per cent interest in Southland dairy nutrition company, Mataura Valley Milk (MVM), from China Animal Husbandry Group (CAHG), which will retain a 25 per cent interest.

The terms of the transaction were consistent with those previously advised, with a2 Milk paying $268.5 million, payable from cash reserves, for the majority holding.

At its last interim results announcement in February, a2 Milk said its cash reserves were a healthy $774.6m.

A2 Milk’s move into manufacturing is in part aimed at lessening its reliance on its current sole infant formula provider, Synlait Milk, in which it has a 20 per cent stake.

The company has said the MVM move would provide supply diversification, further strengthen relationships with key strategic partners in China, and offer access to manufacturing margins over time.

CAHG is a subsidiary of China National Agriculture Development Group, which is the parent of a2’s strategic logistics and distribution partner in China, CSFA Holdings Shanghai (China State Farm).

News Related

OTHER NEWS

Police make five arrests after Napier car thefts and break-ins

At least five people have been arrested as police step up operations to stop thefts from cars and other incidents in Napier. The arrests were revealed by police Area Response ... Read more »

Dannevirke Gallery of History gifted mechanical horse

It’s one of those childhood pastimes one never really forgets – walking past a shop with a mechanical ride and begging Mum or Dad for a coin. Now the Dannevirke ... Read more »

Calm days and rain: Hawke's Bay's 'unusual' weather for the week

Hawke’s Bay residents will have a great start to the weekend but intermittent showers for the rest of the week will be a black cloud to the silver lining. MetService ... Read more »

Calm days & rain: Hawke's Bay's 'unusual' weather for the week

Hawke’s Bay residents will have a great start to the weekend but intermittent showers for the rest of the week will be a black cloud to the silver lining. MetService ... Read more »

$300K of black-market crayfish seized from Mahia

The Ministry for Primary Industries (MPI) will either freeze $300,000 worth of illegally harvested crayfish seized in Mahia and elsewhere, or return them to the sea. On Wednesday MPI fishery ... Read more »

Tokyo Olympics:Burling, Tuke beaten for gold in 49er thriller!

Burling, Tuke beaten for gold in 49er thriller! Video / Sky Sport Read more »

Havelock North retirement village residents take on Olympics

While New Zealand’s Olympians tackle Tokyo, there’s another group of athletes taking on an Olympics of their own. About 30 residents at the James Wattie Retirement Village in Havelock North ... Read more »

Perēri King wins 5 minutes of fame

Perēri King from Hawke’s Bay sings Tōrea in Toi Toi, Hastings. He is the winner of the inaugural 5 Minutes of Fame competition. Video Warren Buckland Read more »

Bail continues for Flaxmere pair accused of serious assault on 4-year-old boy

A man and woman charged over a serious assault of a four-year-old boy in Flaxmere last year have reappeared in court and have again been granted bail. A 32-year-old woman ... Read more »

Driver seriously injured after crash on SH2 near Norsewood

A driver has been flown to Hawke’s Bay Hospital in a serious-to-moderate condition following a crash on SH2 near Norsewood. The crash occurred when the vehicle hit the barrier around ... Read more »

Focus Sport: Olympics Day Twelve

NZ Herald Focus Sport's Cheree Kinnear wraps all the Olympics news from day 11 as Lisa Carrington starts strong and Laurel Hubbard bombs out. Video / NZ Herald / Sky ... Read more »

Getting creative with flowers

Floral art has seen something of an evolution art form over the past few years. “It’s not just flowers in a vase,” says Dannevirke Floral Art society president Joy Charmley. ... Read more »

Hawke's Bay man denies filming sexual encounter without consent of women

A man accused of filming his sexual encounter with two women on a Hawke’s Bay riverbank without consent has denied the charges. The man, aged in his 40s, appeared in ... Read more »

Man in serious condition in hospital after Te Hauke crash, second injured man discharged

A man remains in a serious condition in Hawke’s Bay Hospital after a two-car crash that ended with a car on a grassy bank on State Highway 2 near Te ... Read more »

Council warns illegal clearing of Hawke's Bay stream could backfire

A northern Hawke’s Bay resident has been accused of excavating a partially blocked stream adjoining a protected wetland. The Mahanga Wetland is near Mahia, and Hawke’s Bay Regional Council says ... Read more »

Classes at Tararua REAP helping people use cell phones

Sandy Ahern is all about showing people how to make better use of their cellphones. The Dannevirke resident teaches classes in digital devices at Tararua REAP. Ahern had been managing ... Read more »

CHB retain the Bebbington Shield

Central Hawke's Bay edged out a spirited Dannevirke side to keep hold of the Bebbington shield in Tikonkino. Read more »

Tokyo Olympics 2020: Hawke's Bay's delight as rowers Emma Twigg and Tom Mackintosh win gold

Hawke’s Bay’s finest Olympic hour rocked the region on Friday as local rowers Emma Twigg and Tom Mackintosh won gold medals within 60-minutes of each other in Tokyo. Schools students ... Read more »

Historic HB: Stow away ends up running boarding house

Typically in the 19th and into the mid-20th century, when men, described as bachelors, left home, or moved out of the area, they would live in boarding houses. There was ... Read more »

Hawke's Bay police see rise in heavy vehicle battery thefts, caution owners to make record

Hawke’s Bay police are cautioning heavy vehicle owners to record the make, model and size of batteries after seeing a rise in the number of heavy vehicle battery thefts. Over ... Read more »

Napier Port fundraises nearly $17,000 for Fiji Covid-19 fundraising appeal

Napier Port in partnership with Save the Children has run a campaign to fundraise for the Fiji Covid-19 appeal, and have managed to raise nearly $6000 more than the intended ... Read more »

Tokyo Olympics 2020: Another gold! Men's rowing eight claim famous win

The men’s eight put an exclamation mark on an extraordinary hour in Tokyo, winning gold from lane two in a brutal display of power. Following on from the success of ... Read more »

Tokyo Olympics 2020: Hawke's Bay's delight as Emma Twigg claims gold in single sculls rowing final

Former Napier woman Emma Twigg has claimed Olympic Gold after winning her women’s single sculls on Friday. The 34-year-old Napier Girls’ High School and Hawke’s Bay Rowing Club alumni took ... Read more »

Taniwha Daffodils returns to Central Hawke's Bay Spring Fling Festival

The appearance of dozens of varieties of yellow daffodils along the gates of Taniwha in Central Hawke’s Bay are a sure sign that spring is on its way, and along ... Read more »

Hawke's Bay's Kurt Baker wins Olympics silver in Sevens

Five years after sevens made its Olympics debut, the world was treated to a dream final in the event. But unfortunately for New Zealand, and veteran Kurt Baker of Hawke’s ... Read more »

Sustainability on show

From making ponchos to making toys out of sewing machines, there were all kinds of repurposed items at the Sustainable Living event at the weekend. The fine weather was a ... Read more »

Fifty years of bowling for Combined Indoor Bowling Club

When the Combined Indoor Bowling Club decided to hold a celebration for the 50th anniversary tournament, it was only natural they ask one of their stalwarts to cut the cake. ... Read more »

Mike King mental health charities fundraiser: Hawke's Bay chef hopes to top $100,000 goal

Tickets to a Hawke’s Bay event aiming to raise more than $100,000 for Mike King’s mental health charity groups have sold out in less than a week. Event organiser Greg ... Read more »

Let's talk poop

Parenting and birth educator Janine Gard. NC280721poop.JPG Pooping during childbirth can be part of the process. Janine Gard is a diploma qualified birth educator and founder of Bellies to Babies. ... Read more »

Woman in her 70s struck by logging truck in Waipukurau now stable

The main road through Waipukurau has reopened after it was closed when a pedestrian was critically injured after being struck by a logging truck on Tuesday morning. Emergency services were ... Read more »

Clive community fumes as thieves target utes

A spate of ute break-ins along the main streets of Clive, including one house hit twice in a night, has left residents feeling “angry” and “unsafe”. Police said they received ... Read more »

Local musician enthrals crowd

“Are you as nervous as I am?” Stretch asked his audience after his first two songs, Come Back to My Arms and Nothing Can Hurt You Again. On July 22, ... Read more »

Niko Brooking-Hodgson forestry death: Coroner vows to prioritise case after five-year wait for inquest

An inquest into the 2016 death of a forestry worker in Hawke’s Bay has ended with a coroner signalling she will likely make recommendations. Closing the inquest in Gisborne on ... Read more »

Two tradie flatmates in Clive were among several ute owners targeted by thieves

Two tradie flatmates in Clive were among several ute owners targeted by thieves overnight on Sunday night. Video / Supplied Read more »

Woman critically injured after being struck by logging truck in Waipukurau, road closed

A pedestrian is critically injured after being struck by a logging truck on the main road through Waipukurau on Tuesday morning. Emergency services were alerted to the crash near the ... Read more »

Art therapy: Hastings woman's 'koha of aroha'

A Hastings woman has found healing through turning her trauma into an immersive art space where she hopes others will too. “Aukati” means to create a boundary. For Kezia Whakamoe, ... Read more »

Nbhs welcomes new headmaster

Napier Boys High School welcome their 14th Headmaster, Mr. Jarred Williams who will lead the school into its 150th jubilee year. Read more »

Dannevirke Sports Club into finals

Tether, Binance Coin, and USD Coin are either maintaining their market price or rising in the recent trends, but leading cryptocurrency Bitcoin ($BTC) crashed deep into the “safe zone.” The ... Read more »

Community detention sentence for mother of four

Photo by: Impossible Foods/Instagram Impossible Foods is expanding its plant-based meat line with the addition of chicken nuggets. The American company that develops plant-based substitutes for meat products will be ... Read more »

First time Hawke's Bay's half-marathoner fundraises for mental health

For as long as we all can remember, the news has been an integral part of society. The ability to spread a message far and wide, and keep up to ... Read more »