RJ’s signs conditional agreement to acquire local brands

Press Release – RJ’s

Iconic New Zealand confectionery brand, RJs, has entered into a conditional agreement with Nestle NZ to acquire a stable of iconic New Zealand brands including Black Knight, Fabulicious, Heards, Mackintosh, and Oddfellows.RJ’s signs conditional agreement to acquire local brands, ensuring jobs remain in NZ

Iconic New Zealand confectionery brand, RJ’s, has entered into a conditional agreement with Nestle NZ to acquire a stable of iconic New Zealand brands including Black Knight, Fabulicious, Heards, Mackintosh, and Oddfellows.

As part of the planned acquisition, the Lifesavers brand will be purchased by its sister company Darrell Lea in Australia.

The deal will strengthen RJ’s position as one of the largest confectionery manufacturers in NZ with operations based in Levin.

The RJ’s management team plan to work closely with Nestle on a manufacturing transition plan that will see products transferred by the end of 2018. Tim York, CEO of RJ’s said “We are really excited about this acquisition. It gives RJ’s greater strength within the confectionery category and broadens our confectionery offer beyond the licorice segment.”

Mr. York added “RJ’s has a place in the hearts of all New Zealanders and over the last 5 years we have seen the business double in size due to strong domestic and export growth in the USA, Canada and the UK. We are passionate about New Zealand manufacturing & this conditional acquisition will increase our manufacturing presence in NZ”.

ENDS.

Content Sourced from scoop.co.nz
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