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Goodman Fielder Limited confirms the final consideration payable for the acquisition of New Zealand Dairy Foods Holdings Limited from the Rank Group is NZ$869.591 million.
The consideration consists of a Base Amount of NZ$609.64 million, which was paid on completion of the acquisition, and an Earn Out Amount of NZ$259.951 million. The Earn Out Amount was determined on the basis of an increase of NZ$30.6 million in the annualised EBITDA of the New Zealand Dairy Foods business arising from the implementation of value-add improvements that had been agreed between Rank Group and Goodman Fielder.
