- New company will combine the business operations of X Food Group Ltd and Y Dairy Products Ltd.
- Seeking NZ$38 mil in pre-IPO equity funding for $47.5% of the company
- Company is an 80-year-old brand covering a range of well-known FMCG products, such as rice bran oil, puddings, a range of goat and sheep milk products, including infant formula.
- Company has a factory in New Zealand and branch offices in Australia & UK
- Company has current revenues >NZ$100 mil
- Off-take agreements/forward orders on hand for dairy products
- Company brings a long-established business, strong revenue, a solid distribution base in key markets, and valuable brands.
- Company brings innovative dairy products with strong global demand, good margins & new markets.
- Agreement with Westland Dairy to manufacture the dairy products, pending own factory build.
- New production lines being added for organic baby food and fruit & vegetable powders
- Combined Business EBITDA projections (NZD):
Year 1 - $9M
Year 2 - $23M
Year 3 - $27M
Year 4 - $51M
Year 5 - $86M
- Opportunity to improve gross margins by moving up the value chain, expanding distribution channels and improving plant utilization.
- New dairy factory and farming operation to be built following IPO
- Experienced management team in place
- Global trademarks in place.
- Opportunity to build the Company brand into a leading New Zealand global brand.
- Clear strategy in place to grow the business
- Sales personnel to focus on development of new market channels including online and food service
- Business is diversified, and is not ''single market'' or ''single product'' dependent