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     Simplot Australia

    Simplot Australia Pty Ltd has announced that it entered into a conditional agreement to sell its shareholding in its New Zealand-based potato manufacturing and distribution business, Simplot Mr Chips Limited, to the Auckland based Balle Bros Group Limited.

    The expected completion date for the sale is 26 August 2013.

    Balle Bros is one of New Zealand’s leading growers and distributors of vegetables, particularly potatoes. Balle Bros Managing Director, Dacey Balle, said the acquisition was a strong, strategic fit for its current operations and offered substantial opportunity for growth.

    “It is a significant step towards delivering on our growth and integration strategy. We know the business well and the opportunities for growth it presents as until recently Balle Bros was a minority shareholder of Mr Chips with a representative on the Board.”

    Simplot Australia Managing Director, Mr Terry O’Brien, said Simplot’s immediate imperative was to ensure a smooth transition to Balle Bros, who have a deep and long-standing passion for the potato industry.

    “For Simplot Australia, the sale is part of the company’s strategic plan to ensure a viable business in the future. A review of the Mr Chips business concluded it is no longer an optimal fit for Simplot Australia,” Mr O’Brien said.

    Source: Simplot Australia