Plant-based bubble bursts
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.
OPINION: The pain continues at listed Canterbury milk processor Synlait.
The company is in talks with employees over plans to cut its workforce by 15% and annually save about $12 million.
The company has been in turmoil since Covid decimated infant formula sales to China of its key customer and shareholder a2 Milk.
Synlait co-founder John Penno, who was forced to come back as chief executive earlier this year, says some parts of the business are now over resourced, and some areas are under resourced.
The new structure will "remove any unhelpful hierarchy from the organisation".
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.