Nutritek Finalises New Zealand Dairies Acquisition

Nutritek Group is one of the leading producers of baby and specialist foods in Russia. Founded in 1990, the Group comprises food production and agricultural facilities in Russia, Ukraine, Estonia and New Zealand.

10/07/09 Nutritek has finalized the acquisition of the remaining shares from minorities in New Zealand Dairies Limited (NZDL). 18% of NZDL shares were bought for NZ$16.7 mln in accordance with a put option agreement signed in 2008. This amount was almost entirely financed through financial leverage against a pledge of the purchased shares with the rest of funding coming from NZDL funds. This transaction clearly removes the risk of imminent divestiture and enhances the integrity of NZDL and, therefore, that of Nutritek as a group.

Nutritek Group is one of the leading producers of baby and specialist foods in Russia. Founded in 1990, the Group comprises food production and agricultural facilities in Russia, Ukraine, Estonia and New Zealand.