Aspen acquires a stake in an IMF production facility in New Zealand

31/10/14:

Aspen Holdings is pleased to announce that it has concluded a transaction to acquire a 50% shareholding in New Zealand New Milk Limited (“NZNM”), a producer of infant milk formula in Auckland, New Zealand. In terms of a supply agreement concluded between Aspen Global Incorporated and NZNM, long-term supply of infant milk formula for distribution by Aspen in Australia will be secured. NZNM is one of a limited number of companies which holds the required endorsements from the Chinese regulatory authorities to produce infant milk formula for this key territory and the investment in NZNM represents another step towards Aspen’s aspirations to enter the Chinese infant milk formula sector, valued at approximately US$15 billion.

Durban

31 October 2014

Sponsor:

Investec Bank Limited