Latest news with #Pokeno
Yahoo
a day ago
- Business
- Yahoo
A2 Milk acquires Yashili New Zealand Dairy from Chinese owners
A2 Milk Co. is buying an infant-formula business in its home market of New Zealand and plans to invest NZ$100m ($59.3m) to increase factory capacity. The New Zealand and Australia-listed company made a multi-faceted full-year results announcement today (18 August) that included the acquisition of a Yashili New Zealand Dairy-owned plant in Pokeno - located in the Waikato region – along with the sale of its majority stake in Mataura Valley Milk. A2 Milk said the Pokeno site already has two registrations for Chinese label infant milk formula (IMF), bolstering the company's current presence in a market that generates the majority of its annual revenue. In a stock exchange filing, A2 Milk implied the formula maker has also acquired Yashili New Zealand Dairy in the transaction, a business in which French dairy giant Danone took an interest in 2018/19. A spokesperson for A2 Milk clarified that was the case when asked for confirmation by Just Food today, as the company noted Danone is 'no longer a shareholder'. As part of what A2 Milk called its 'supply chain transformation strategy', the filing stated: 'The acquisition of an integrated nutritional manufacturing facility with two CL IMF product registrations, located in Pokeno, New Zealand, by purchasing all of the shares in Yashili New Zealand Dairy Co. Limited, from Yashili International Group Limited (a subsidiary of China Mengniu Dairy Group Limited) for approximately $282 million on a debt and cash free basis.' Just Food has also asked Danone to clarify when it exited its investment in Yashili New Zealand Dairy. A2 Milk's CEO and managing director David Bortolussi said: 'The acquisition of the Pokeno manufacturing facility and related products represents a pivotal moment for The A2 Milk Company and the execution of our supply chain transformation strategy. 'The transactions enable the company to build a better, higher growth, lower risk, end-to-end business and deliver substantial benefits to shareholders.' Bortolussi added that the Pokeno facility and its team had already played a part in 'co-developing and producing' A2 Milk's English label formulas, A2 Genesis and A2 Gentle Gold. As A2 Milk reported across-the-board increases in revenue and profits for the 2025 fiscal year, the company revealed it was selling its 75% holding in Mataura Valley Milk (MVM), an interest it bought in the local dairy nutrition business in 2021. Open Country Dairy, a New Zealand-based milk processor, is buying the stake along with the 25% held by China Animal Husbandry Group. A2 Milk said it will pocket NZ$100m from its side of the transaction. A2 Milk added it expects to incur a loss of around NZ$130m from the disposal. MVM will continue to supply A2 Milk with A1 protein-free ingredients under a new supply agreement. 'MVM is an advanced nutritional powder drying facility that continues to have significant potential but is no longer the optimal asset and pathway to achieve our strategic objectives,' Bortolussi said. Meanwhile, A2 Milk said the multi-year NZ$100m investment in the newly acquired Pokeno factory will lead to more than 100 new jobs over time. On the results front, A2 Milk reported a 13.5% increase in 2025 sales revenue to NZ$1.9bn. China and the wider Asia region generated NZ$1.3bn, up 13.9%. IMF products sold in China and Asia provided NZ$1.19bn, an increase of 12.4% over the previous 12 months. For A2 Milk as a group, EBITDA climbed 17.1% to NZ$274.3m, with the margin rising 0.4 percentage point to 14.4%. Net profit after tax rose 21.1% to NZ$202.9m, while basic EPS was up 20.9% at 28 cents. Looking ahead to 2026, A2 Milk expects revenue to grow in the high-single-digit area with an EBITDA margin of 15% to 16%. "A2 Milk acquires Yashili New Zealand Dairy from Chinese owners" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
11-02-2025
- Entertainment
- Yahoo
These are the most underrated restaurants in West Virginia, according to viewers
CLARKSBURG, (WBOY) — We asked, and you told us. Here is a list of West Virginia's most underrated restaurants in 2025, according to WBOY viewers. In true north central West Virginia fashion, most of the restaurants are Italian American style eateries with a small, hometown kind of atmosphere. This Morgantown eatery on Greenbag Road is more than just a restaurant. According to its Facebook page, it is also a two-story pub and hot spot that offers events and games like trivia and Pokeno every week along with great food and drinks. Its American-style menu includes lunch and dinner with new specials added all the time. Viewers say that it has the best burgers and fries around. Classics is open every day except Sunday with food available from 11 a.m. to 8 p.m. Located on Country Club Road, Say-Boys has been around for decades and is known for its broaster chicken, seafood specials, 12-inch hoagies and specialty salads, according to its website. However, it offers a variety of food options with new specials daily, which it updates regularly on its Facebook page. It also offers catering options. 'Take Me Home Country Roads' Super Bowl commercial makes history Located on West Main Street in Grafton, this restaurant has been offering homemade Italian American cuisine since 2009. You can get everything from sandwiches and wings to dinner platters in a family-style atmosphere. Specials are updated regularly on the Gourmet Express Facebook page and a full menu is available on the restaurant's website. Located just outside of Morgantown in Brookhaven, this is far from your average pizza place. Homegrown is known for its massive, unique specialty pizzas—like Crab Rangoon and 'Oh Kale Yeah!' just to name a few—and desserts. It offers regular pizza, sandwich and salad specials, so check the HomeGrown Facebook page before you order to see what's new. This is the perfect place to get lunch in Preston County, with lunch specials for less than $10. The menu includes everything from quality steaks and pastas to humble sandwiches. Monroe's is open for lunch and dinner Monday through Saturday. You can find regular updates on specials on the Monroe's Facebook page. Located at the edge of Cathedral State Park along U.S. Route 50 in Preston County, Melanie's offers 'big meals at affordable prices,' according to its Facebook page. Wraps, dinners, soups, salads, sandwiches and breakfast are all on the menu. Melanie's might be one of the only food options in the Aurora area, but according to locals, it's a good one. Custard Stand Chili featured in Google's West Virginia Super Bowl commercial This 'cottage-like' restaurant has been serving home-cooked recipes in the Fairmont area since 1994. Although it has a great selection of sandwiches and dinners, most locals would recommend the daily specials, which include cream chicken over biscuits on Mondays, all-you-can-eat spaghetti on Tuesdays and chicken and dumplings on Saturdays. Check out the Dutchman's Daughter website here. Dutchman's Daughter was the only one of the underrated restaurants above to also be included on a similar list compiled by WBOY in 2023. See other suggestions that just missed being included on the 2025 list here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
