New Zealand Pharmaceuticals sold for $200m - report
Summary
The Australian newspaper reported this morning that an agreement had been reached for Archer to purchase the company, which is 51% owned by Direct Capital. Other shareholders include former managing director Dr Richard Garland and his wife Susan who between them hold 22.37%, according to Companies Office records. NZP, which was formed 42 years ago, has also diversified into anti-oxidant extracts from blackcurrants used in health supplements and energy drinks through JTB (Just the Berries) and Dextra Laboratories in Reading, England. In 2013 the company invested $15 million to expand its Palmerston North plant, doubling its storage and distribution capacity as well as boosting output. In 2005 Direct Capital purchased 51% of NZP.Use MyNBR Tags to track people and companies - and receive key-word email alerts.