Displaying items by tag: Westland

The demise of Westland as a cooperative contains a lesson for all business, says Roz Henry, the new Cooperative Business NZ chief executive.

Senior staff of the Chinese dairy giant Yili will arrive this week to take the reins of their new acquisition Westland Milk Products.

Steady but prudent expansion is the key to success at the Ashburton Trading Society (ATS) in Mid-Canterbury.

The sale of Westland Milk to Chinese company Yili is now complete.

Westland Milk Products’ sale to Chinese interests is an ironic end to the co-op, which last August was named New Zealand’s 2018 Cooperative Business of the Year.

Westland chair Pete Morrison has reiterated the terms under which protesting former suppliers had surrendered their shares that they say are worth millions.

A group of former suppliers of Westland Milk Products has formally asked the Overseas Investment Office to block or delay the sale to Yili.

Westland Milk Products shareholders voted overwhelmingly last Thursday to sell their co-op to Chinese dairy giant Yili.

Westland Milk Products’ board chair, Pete Morrison has defended bonus payments to chief executive Toni Brendish and other top executives, criticised as having conflicts of interest.

Corporate farmer Southern Pastures, Westland Milk Products’ largest shareholder and milk supplier, says it will abstain from voting on the proposed takeover offer by Chinese giant Yili.