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02 August 2019

SYNLAIT COMPLETES TALBOT FOREST CHEESE ACQUISITION

Cheese manufacturerEveryday DairyFoodserviceTalbot Forest Cheeese

Synlait (NZX: SML; ASX: SM1) today announced it has completed the acquisition of selected Talbot Forest Cheese assets. The acquisition includes the property, plant and equipment of the Temuka site, along with the consumer cheese brand (Talbot Forest Cheese). Current customer relationships will continue.

Synlait assumes management and operational control of Talbot Forest Cheese as of today and Talbot Forest Cheese employees start with Synlait today.

“We’re pleased to finalise this sale process and welcome Talbot Forest Cheese employees into the Synlait family”, says Leon Clement, CEO.

“The acquisition enables us to manufacture a variety of cheese products. It also helps us optimise our manufacturing assets (especially during peak seasonal flows), access new profit pools, and align with our approach to run a high-quality, flexible dairy manufacturing plant that enables us to tailor product to meet customer needs.”

In June 2019 Synlait appointed Andrew Bull as General Manager Talbot Forest Cheese. Mr Bull says, “Paul Fitzsimons, founder of Talbot Forest Cheese, and his team have created a legacy that I feel extremely privileged to be leading. We have talented staff, world class assets and award winning cheeses that provide a strong foundation for growth in both the speciality and foodservice sectors.”

Mr Bull says Synlait plans to produce around 5,000 tonnes of cheese during the 2019/2020 season.

“Our highly automated plant is capable of manufacturing both dry and brine salted products, including parmesan, cheddar, gouda and mozzarella for both retail and foodservice customers. In addition, we have retained the ability to make open vat cheeses such as haloumi and feta, which are extremely popular.”

These products, along with ingredient cheeses made to customer specifications, will be sold to the local and international wholesale markets.

ENDS

ADDITIONAL INFORMATION

Note: The Geraldine Talbot Forest Cheese artisan factory in Geraldine and the Deli shop is excluded from the sale agreement. Specialty artisan cheeses will continue to be made there under another label owned by Paul Fitzsimons and Angela Veale.

 

Andrew Bull, General Manager, Talbot Forest Cheese

Andrew joined Synlait in June 2019. Since then he has been a key member of the Talbot Forest Cheese advisory panel. Andrew previously worked for Fonterra where he held a number of technical and leadership roles across a variety of business units, including leading the turnaround of a manufacturing site. Prior to Fonterra, Andrew ran his own business delivering project and asset management consultancy services to industrial clients. He’s worked in a range of industries in New Zealand and offshore.

Andrew holds a Bachelor of Engineering Degree from the University of Canterbury as well as a Graduate Diploma in Arts (Psychology) from the University of Auckland.

 

For more information about Synlait visit www.synlait.com or contact:

Sarah-Jane Bashford

Senior Communications Advisor, Synlait Milk

P: +64 3 373 3320

E: sarah-jane.bashford@synlait.com

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