{"id":369603,"date":"2026-04-08T13:53:29","date_gmt":"2026-04-08T13:53:29","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/369603\/"},"modified":"2026-04-08T13:53:29","modified_gmt":"2026-04-08T13:53:29","slug":"synlait-milk-sells-north-island-operations-to-focus-on-back-to-basics-approach-3","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/369603\/","title":{"rendered":"Synlait Milk sells North Island operations to focus on back-to-basics approach"},"content":{"rendered":"

The sold assets included the P\u014dkeno manufacturing facility and associated inventory, as well as leasehold Auckland sites, including assets held at the blending and canning facility on Richard Pearse Drive and the leased warehouse facility on Jerry Green St.<\/p>\n

The company\u2019s balance sheet had been hit by costs associated with the recent manufacturing challenges, which saw it report a first-half net loss of $80.6m for the period ended January 2026.<\/p>\n

Of the sale proceeds, $200m would be used to repay Synlait\u2019s bank facilities, leaving its balance sheet in a strong operational position.<\/p>\n

However, Wyeth said there was more work to do.<\/p>\n

He said his focus was on achieving steady, high-quality output, without exception.<\/p>\n

\u201cSo we\u2019re looking to simplify the business. We\u2019re looking to stabilise the business. Then we can scale from there.<\/p>\n

\u201cMaking advanced nutritional infant formula is relatively complex, and when it goes well, you get really good results.<\/p>\n

\u201cIf it doesn\u2019t go well, that product goes straight to stockfeed as opposed to a high-value product. <\/p>\n

\u201cThat\u2019s why that focus on operational performance is so important.\u201d<\/p>\n

– RNZ<\/p>\n","protected":false},"excerpt":{"rendered":"The sold assets included the P\u014dkeno manufacturing facility and associated inventory, as well as leasehold Auckland sites, including…\n","protected":false},"author":2,"featured_media":367037,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[23607,192584,138,1958,2514,19332,111,139,21353,529,69,90,26859,45125,1128,39193,61],"class_list":{"0":"post-369603","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-approach","9":"tag-backtobasics","10":"tag-business","11":"tag-focus","12":"tag-island","13":"tag-milk","14":"tag-new-zealand","15":"tag-newzealand","16":"tag-nona","17":"tag-north","18":"tag-nz","19":"tag-on","20":"tag-operations","21":"tag-pelletier","22":"tag-sells","23":"tag-synlait","24":"tag-to"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/369603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=369603"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/369603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/367037"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=369603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=369603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=369603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}