Wyeth to head Synlait
Former Westland Milk boss Richard Wyeth is taking over as chief executive of Canterbury milk processor Synlait from May 19.
Synlait’s $112 million bid for South Canterbury dairy processor Dairyworks has been given the green light by the Overseas Investment Office.
Synlait announced in October, last year, the conditional purchase of Dairyworks.
Today, the OIO approved the purchase.
The South Canterbury -based dairy company founded in 2001, and its subsidiaries, produce a range of well-known packaged dairy products including cheese, butter, and milk powder brands (Dairyworks, Alpine and Rolling Meadow) as well as ice cream (Deep South).
The OIO says the investment will allow Synlait to continue diversifying its business and to service the retail and food service sectors in the NZ domestic market.
“The applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen, and are of good character: the applicant has also demonstrated financial commitment to the Investment,” it says.
Synlait is majority-owned by overseas investors; China’s Bright Dairy owns 39% of the company.
Dairyworks was owned by GPS Trust, whose trustees are Margaret Elizabeth Cross, Peter David Cross, and Bruce Robertson Irvine.
Gallagher Animal Management and Nedap are combining their innovative strengths to "revolutionise" livestock management.
Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.
Fonterra has reaffirmed a forecast milk price mid-point of $10/kgMS for its farmer shareholders, with just over two months of the 2024-25 season left to run.
OPINION: As of last Thursday, five regions – Taranaki, Northland, Waikato, Horizons and Marlborough-Tasman – had been declared medium-scale adverse events.
Two new Awards have been developed for the New Zealand Dairy Industry Awards (NZDIA) programme that will help some farmers on their journey to farm ownership.
The winner of the 2025 Hawke’s Bay/Wairarapa Dairy Industry Awards enjoys the variety of work farming offers and the ability to improve each season.
OPINION: Two Australian cheesemakers have rescued the iconic Tasmanian cheese company King Island Dairy.
OPINION: World famous liqueur maker Baileys is the latest to dabble with plant-based products.