Media release: sent at 9.45am on Friday, 13 October
Sale of SealesWinslow to Farmlands
Following an approach by Farmlands earlier this year, the Ballance Agri-Nutrients (Ballance) Board has agreed to sell SealesWinslow, New Zealand's leading animal nutrition company, to Farmlands.
Before the sale can proceed, it must be approved by the Commerce Commission. It is anticipated that this regulatory process will take at least three to four months. Ballance will work closely with the Commerce Commission and Farmlands to ensure that all necessary steps are taken to meet regulatory approval requirements.
The divestment of SealesWinslow will allow Ballance to focus on its core business, and we will use the sale proceeds to pay down debt,” says Matt Skilton – Ballance’s CFO.
“Farmlands interest in acquiring SealesWinslow is a testament to the customer offerings and strategic assets of this business. This is also a great opportunity for the SealesWinslow employees to be part of a larger animal nutrition Group,” says Matt.
Throughout this ownership change, SealesWinslow will continue to deliver high-quality service levels and nutritional solutions to meet all customer needs, staying true to the legacy of excellence since its establishment in 1968.
Ends
For media inquiries, please contact:
Ballance Agri-nutrients / SealesWinlsow – Aimee Driscoll, Head of Communications
Ph: 027 487 9656 / email: aimee.driscoll@ballance.co.nz
