Japan's Itoham Yonekyu Holdings has expanded its presence in New Zealand's meat market with the acquisition of beef supplier Greenlea Group.
Tokyo-headquartered Itoham said in a statement the deal for family-owned Greenlea amounts to around NZ$800m ($450.8m) and is subject to regulatory approval.
Struck through Anzco Foods, another New Zealand meat processor owned by Itoham, the transaction is expected to be finalised by the end of August.
Hamilton-based Greenlea, which otherwise trades as Greenlea Premier Meats, generated revenue in the year through September 2024 of NZ$615m and net profit before tax of NZ$59m, according to supplementary details provided by Itoham.
Greenlea operates two processing plants in the Waikato region for grass-fed New Zealand beef.
Tokyo-headquartered Itoham said in a statement the deal for family-owned Greenlea amounts to around NZ$800m ($450.8m) and is subject to regulatory approval.
Struck through Anzco Foods, another New Zealand meat processor owned by Itoham, the transaction is expected to be finalised by the end of August.
Hamilton-based Greenlea, which otherwise trades as Greenlea Premier Meats, generated revenue in the year through September 2024 of NZ$615m and net profit before tax of NZ$59m, according to supplementary details provided by Itoham.
Greenlea operates two processing plants in the Waikato region for grass-fed New Zealand beef.
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