NEW ZEALAND – Synlait Milk has appointed Angela Dixon as the Chief Financial Officer of the New Zeeland-based infant formula maker and dairy processing major, effective 15 June 2020.
Angela, who is the current Chief Financial Officer of Public Trust, will replace Nigel Greenwood- who recently resigned from the position after serving as Synlait’s CFO nearly ten years.
Angela brings more than 20 years of experience in the financial professional services an insurance sectors in New Zealand and the United Kingdom.
She has held a range of senior finance, strategy and business performance roles at IAG, Auckland International Airport, Telewest Communication, Royal Sun Alliance and PwC.
As a seasoned profession, Angle has an active interest equity investing for female-led New Zealand startups through the Angle investment network and currently serves as Auckland’s Reginal Councilor for the Chattered Accountants Australia and New Zealand.
In other related new, the Overseas Investment Office has granted consent to Synlait Milk’s purchase of the shares in Dairyworks Limited. Synlait says that arrangements can now be made for settlement on 1 April 2020.
Dairyworks produces a range of cheese, butter, milk powder and ice cream under brands such as Rolling Meadow, Deep South and Dairyworks, The company is also a New Zealand leader in the everyday dairy category, with a growing Australian presence.
Synlait CEO, Leon Clement said that the acquisition will accelerate the execution of Synlait’s Everyday Dairy strategy as it provides the company with instant scale in the sector.
“Dairyworks gives Synlait the opportunity to extract more value from our milk pool and we see strong synergies with our recent Talbot Forest acquisition. We’ll now be closer to the consumer and own more of the value chain,” Leon said.
The deal was announced in October last year. At the time, Synlait agreed to pay Dairyworks NZD112 million (US$71.1 million).
At the same time, the company further revealed that it has has received Overseas Investment Office consent for the acquisition of a farmland adjacent to its Dunsandel facility for NZD25.7 million.
Collectively, the farmland forms a 582-hectare unit, which Synlait said will enable the company to pursue several strategic supply chain and sustainability initiatives that support Dunsandel’s long-term operation and expansion.