Japan's Itoham Yonekyu Holdings has agreed to acquire New Zealand beef supplier Greenlea Group for around NZ$800 million, or $450.8 million, subject to regulatory approval. The deal, struck through Itoham's existing New Zealand meat processor Anzco Foods, is expected to close by the end of August. Hamilton-based Greenlea, which operates two processing plants in the Waikato region, generated revenue of NZ$615 million and net profit before tax of NZ$59 million in the year through September 2024. Itoham said the acquisition is part of its long-term 2035 strategy to strengthen its overseas business base and expand global supply capacity in the meat business, highlighting New Zealand's sustainability record as the world's seventh-largest beef exporter.
Itoham Yonekyu Holdings, Inc.Itoham Yonekyu acquires Greenlea for NZ$800M, expanding overseas supply capacity as part of long-term strategy.
Greenlea is acquired at a valuation reflecting its NZ$59M net profit, providing an exit for owners.