Alliance plans to offload 65% of shares for $250m
Alliance Group has announced plans to sell a 65% stake in the farmer-owned co-operative to Irish meat processor Dawn Meats Group for $250 million.
Alliance Group says it has helped to raise more than $42,000 at a recent Ronald McDonald House South Island Supper Club event in Invercargill.
It was announced in January this year that the co-operative would become an official partner of Ronald McDonald House South Island which provides
free accommodation and support to families who need to travel for their child’s medical care.
Guests at the Supper Club event enjoyed a mystery dining experience which saw them dine at exclusive venues such as the window display of H&J Smith Department Store.
“Following the cancellation of the Supper Club events in 2020 due to Covid-19, we were very grateful to be able to bring back this unique dining experience this year,” says Ronald McDonald House South Island chief executive Mandy Kennedy.
“We are so incredibly thankful to Alliance Group, the venues, caterers and chefs, as well as each and every sponsor, auction donor, volunteer and guest who made the Invercargill Supper Club, presented by Alliance Group, such a success.”
Before departing for the mystery dining experience, guests heard from Kat Moses who stayed at the Ronald McDonald Family Room in Southland Hospital when her son Bodhi was born prematurely.
“I was a huge supporter of this charity before, but after my six weeks stay, I cannot even put into words how much respect and love I have for Ronald McDonald House South Island,” she told the diners.
David Surveyor, chief executive of Alliance Group, says Alliance and Ronald McDonald House South Island share common values of care and support.
“We don’t have to go far in talking with farmers or our people to see how this charitable trust has touched the hearts of rural communities,” Surveyor says.
“The Supper Club event was also a great opportunity to showcase our farmers’ products, cooked by some of the region’s best chefs.”
The money raised from the event will go directly to support families who stay at the Ronald McDonald Family Room at Southland Hospital.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
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