Bremworth’s largest shareholder lines up $20m partial takeover

BusinessDesk

10 Aug, 2026 03:11 AMQuick Read

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Bremworth’s yarn-spinning plant in Napier. Photo / NZME

The largest shareholder of Bremworth is lining itself up for a partial takeover of the carpet-maker worth at least $20 million.

According to an NZX notice on Monday morning, David Ferrier’s Mangawhai Collective signed lock-up deeds with 13 shareholders over the weekend as it considered making a partial takeover that
could result in it holding between 50% and 55% of the NZX-listed business.

Ferrier’s Mangawhai Collective, which currently controls 19.7% of Bremworth, signed the agreements with members of the Timpson and Woolf families as well as Grant Biel’s Rural Aviation (1963) entity.

All up, it would acquire roughly 22.2 million shares from the individual shareholders.

The lock-up letters said the offer would be made for no less than 90 cents per share, indicating it would be worth at least $20m.