No signs of bird flu outside first farm
Biosecurity New Zealand says continued testing and monitoring shows no signs of avian influenza outside of Mainland Poultry’s Hillgrove, Otago farm.
PEP is Australasia’s largest private markets firm and an experienced poultry investor.
Mainland Poultry Eyes Future Growth
Chief executive of Mainland Poultry John McKay says the sale process has been underway for many months and has been successfully concluded this week, subject to Overseas Investment Office approval. He says while it will be business as usual it is an exciting development which supports the future development of the business.
“This new ownership provides a strong base for us to continue to grow New Zealand egg production and invest in new initiatives right across the business,” says McKay. “This marks a new chapter in the history of our business and one that will bring more growth and resilience.”
PEP Gateway Targets Poultry Sector Growth
PEP Gateway Director, James Randall says they are delighted to partner with Navis to acquire Mainland Poultry, New Zealand’s largest supplier of eggs.
“Mainland has a strong market position, is vertically integrated with scale assets, and has a quality management team led by CEO John McKay. It is also well positioned for future growth following significant investments in its free range and barn capacity.”
This acquisition will see PEP Gateway achieve a key milestone in managing more than $1 billion in funds under management while further strengthening its leading global position in the single-asset continuation vehicle market, with approximately 50 single asset CV and co-investment transactions completed since 2022.
Navis Capital Reflects on Mainland Poultry Growth
Navis Capital bought Mainland’s vertically integrated business in 2017 and under its stewardship has grown company earnings strongly.
Navis Capital Partner, William Whittle says, “It’s great to be able to partner with a very experienced local sponsor in PEP, deliver liquidity to our existing investors, and provide a runway for those continuing on the journey.”
The Mainland acquisition was led by William Whittle from Navis and James Randall from PEP Gateway. Advisors on the deal included Cameron Wilson at Luminis Partners, and legal advisors Mallesons in Australia and Bell Gully in New Zealand.
