Worth reading
73In focus
Scored from 4 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
800
NZ$ millionWording
Conditional
How definitive the wording is.This transaction
Acquisition of sharesCounterpartyMCCAW LEWIS TRUSTEES LIMITED, CAROLINE SHARPLES TRUSTEES LIMITED, Simon Peter Egan, James Anthony Egan, Mary Elizabeth Egan, Anthony Richard Egan
Disclosing companyITOHAM YONEKYU HOLDINGS INC.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Meat processing and sales
Location New ZealandShare capital NZ$44 million (as of the end of September 2025)Date of incorporation 15 September 1982
Net SalesNZ$615 million (fiscal year ended September 2025)
Operating profitNZ$55 million (fiscal year ended September 2025)
Net income for the current fiscal yearNZ$43 million (fiscal year ended September 2025)
Net assetsNZ$197 million (fiscal year ended September 2025)
Consideration and expenses
Acquisition priceApproximately NZ$800 million (approximately ¥76 billion). The purchase price is based on enterprise value, and the final transfer price will be determined after adjustments based on net interest-bearing debt and working capital as of the closing date, among other factors.
Impact on Business Performance
Currently under review. If a revision to the earnings forecast is required, it will be announced promptly.
Procedures and assumptions
Conditions Precedent to ExecutionAuthorization and approval by the New Zealand authorities and other relevant bodies
Management structure after acquisitionANZCO Foods Limited, our wholly owned subsidiary, will be the acquiring entity. The company name, representative and treatment of employees: not disclosed
| Item | Details |
|---|---|
| Transaction name | Acquisition of shares |
| Counterparty name | MCCAW LEWIS TRUSTEES LIMITED, CAROLINE SHARPLES TRUSTEES LIMITED, Simon Peter Egan, James Anthony Egan, Mary Elizabeth Egan, Anthony Richard Egan |
| Name of the Subject Company | Greenlea Group Limited |
| Business Description of the Subject Company | Meat processing and sales |
| Location of the Subject Company | New Zealand |
| Capital Stock of the Subject Company | NZ$44 million (as of the end of September 2025) |
| Date of Establishment of the Subject Company | 15 September 1982 |
| Net Sales of the Subject Company | NZ$615 million (fiscal year ended September 2025) |
| Operating Profit of the Subject Company | NZ$55 million (fiscal year ended September 2025) |
| Net Income of the Subject Company | NZ$43 million (fiscal year ended September 2025) |
| Net Assets of the Subject Company | NZ$197 million (fiscal year ended September 2025) |
| Acquisition price | Approximately NZ$800 million (approximately ¥76 billion). The purchase price is based on enterprise value, and the final transfer price will be determined after adjustments based on net interest-bearing debt and working capital as of the closing date, among other factors. |
| Number of shares acquired | 44,122,390 common shares (number of voting rights: 44,122,390) |
| Voting rights ownership percentage | Before 0％ → after 100％ |
| Impact on Business Performance | Currently under review. If a revision to the earnings forecast is required, it will be announced promptly. |
| Date of board resolution | 18 June 2026 |
| Contract Date | 18 June 2026 |
| Execution Date / Effective Date | End of August 2026 (scheduled), subject to authorization and approval by the New Zealand authorities and other relevant bodies |
| Conditions Precedent to Execution | Authorization and approval by the New Zealand authorities and other relevant bodies |
| Management structure after acquisition | ANZCO Foods Limited, our wholly owned subsidiary, will be the acquiring entity. The company name, representative and treatment of employees: not disclosed |
Items this document does not state (12)
Expenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To accelerate growth and expand earnings in our overseas business by leveraging the business complementarity and synergies between ANZCO and Greenlea, which operates in the same industry, thereby maximizing the value of the ANZCO business and strengthening and expanding our overseas business.
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