Dutch giant increases Synlait Milk stake

Last updated 14:03 20/03/2014

Related Links

Synlait lifts milk price forecast A Broker's View: Synlait Synlait plans new lab Synlait Farms purchase approved

Relevant offers


Farmwalk TRC gives environmental award to Ngaere farmers John and Jannine Moore Blue Read remains a co-operative champion Hard yards pays off for new Fonterra director Ashley Waugh No single answer to lowering Fonterra's energy footprint Farm issues the same wherever you go Dairy farmers better off staying with their grazier for rearing heifers The not so glamorous side of farming Our People Michael and Ruth Prankerd Positive signs around the corner for dairy slump to return to average trading

Giant Dutch dairy company Royal FrieslandCampina has upped its stake in Canterbury milk processor Synlait Milk to a strategic level.

Synlait's shares rose 3 cents to $3.90 today on the back of the news.

Synlait said it welcomed FrieslandCampina increasing its stake from 7.5 per cent to just under 10 per cent.

The Dutch company is a customer of Synlait Milk and Synlait chairman Graeme Milne said their working relationship continued to develop.

"They have become a valued customer and key strategic partner, alongside our other first-tier multinational customers and we view this announcement as a positive endorsement of the growth and performance of Synlait Milk," he said.

FrieslandCampina sold products in more than 100 countries and had annual revenue of about €10.3 billion (NZ$16.7b).

It bought into Synlait when the processor listed on the NZX and issued shares to the public in July last year.

FrieslandCampina and others taking part in the initial public offering of shares bought them for $2.20 each.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content