Synlait Milk Agrees to Sell North Island assets to US Based Customer for About NZ$307 Million
MT Newswires Live
Sep 29, 2025
Synlait Milk (ASX:SM1, NZE:SML) signed a deal with healthcare provider Abbott to sell its North Island assets for about NZ$307 million, according to a Monday filing with the Australian and New Zealand bourses.
The assets include the company's Pokeno manufacturing facility, its Auckland sites, and associated inventory and leasehold arrangements, the filing said.
The sale is expected to be completed on April 1, 2026, the filing added.
Majority shareholder Bright Dairy Holding has confirmed its intention to vote in favour of the sale, the company said.
The company's board unanimously recommends that shareholders vote in favour of the sale at the company's annual meeting on Nov. 21, the company added.
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