CER looking to sell NZ Nature business

Last updated 12:31 30/10/2009

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CER Group Ltd is negotiating to sell its New Zealand Nature Company Ltd business, shareholders were told at the annual meeting.

CER acquired New Zealand Nature, an e-commerce retailer and direct marketer in 2005.

Shareholders were told that when the terms of a sale were finalised they would be announced to the market and presented the shareholders for approval.

New Zealand Nature is an online supplier of winter clothing and is being repositioned as a specialist in Christmas gift products and New Zealand-themed clothing, according to the company's annual report.

CER sold its VRM Group and Certified Organics businesses last year and has announced the sale of land and buildings in Townsville, Queensland remaining from the VRM businesses.

NZPA

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