MGL is pleased to announce the completion of the acquisition of the business
and related assets of Haden & Custance Limited.
Haden & Custance is a leader in the design and supply of automated handling
systems that prepare bulk cheese and butter for processing. Their solutions
target a "Lights-out 365"operating environment that enables continuous
production without human intervention. Over 90% of Haden & Custance revenue
is export based, with the US being a key growth market.
Based in Hastings, with offices in Melbourne and Wisconsin, Haden & Custance
provides the platform for Mercer to execute on its stated strategy of
transitioning its own machinery businesses towards an integrated food
processing and packaging solutions provider. Mercer''s existing products of
the Beta range of cheese processing equipment, the AiCo packaging equipment
and Titan all fit strategically and operationally with Haden & Custance.
Stuart Dykes, Haden & Custance CEO will continue to lead the business from
Hastings. For further detail on Haden & Custance see: www.hadencustance.com.
The purchase price was $2.25m and has been funded through an equity placement
and bank debt.
For further information contact
Richard Rookes, CEO, 021 414 016
End CA:00294059 For:MGL Type:ASSET Time:2016-12-09 15:19:09