Westland Dairy – the New Zealand subsidiary of China’s Yili – has acquired privately-owned foodservice and consumer butter company Canary Foods for an undisclosed amount.
Under the deal, Canary will become a subsidiary of Westland Milk Products, retaining its own brands and third-party manufacturing agreements.
The Hamilton-based company is known for making “reworked” premium butter and cheese-based products, which are exported to retail and food service sectors, including supermarkets, airlines, and bakeries.
Westland CEO Richard Wyeth said the purchase of Canary Foods is a “fantastic fit” based on a common understanding of what consumers want and need.
“Their commitment to innovation, sustainability and quality in pursuit of consumer demands are values we admire and uphold,” he said.
After the company’s $40 million investment to double its manufacturing capacity at Hokitika, Wyeth said the deal would help extend its long-term commitment to play a greater role in the expanding global consumer butter and spread market.
“We are very excited about the opportunity of joining Canary and providing more jobs and opportunities for our sector,” he added.
James Gray, executive director and shareholder at Canary Foods, said the acquisition would give the company more opportunity to expand and access global markets.
“After record sales last year and with international travel and the hospitality sector set to take off, we are already in a strong position as these markets continue to bounce back,” said Gray.
