Mainfreight gets thumbs up for European acquisition

Mainfreight said its shareholders support its acquisition of the Wim Bosman Group following a special meeting in Auckland yesterday.

"Of the votes received, 100% were in favour of the resolution," the company advised NZX.

Investors often doubt offshore expansion plans by New Zealand companies but Mainfreight's share price soared after the acquisition was announced as it has a successful track record in international acquisitions that have diversified its earnings base.

The company told shareholders today that Wim Bosman was a profitable business which would give it a significant footprint in Europe. It had a similar culture to Mainfreight.

The purchase price is NZ$205 million, though an earn out provision could increase this to a maximum of NZ$224 million.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

SML - Synlait responds to The a2 Milk Company announcement
KPG - Annual meeting date, closing date for director nominations
April 13th Morning Report
CVT - Update on banking facilities
April 9th Morning Report
April 8th Morning Report
ATM - In principle agreement to settle shareholder class action
SUM - 1Q26 Metrics - Sales of Occupation Rights
GMT corporatised and stapled structure completed
April 7th Morning Report