N.Z. Breweries To Buy Into Leopard

Press, Volume CV, Issue 31020, 28 March 1966, Page 8

N.Z. Breweries To Buy Into Leopard

(New Zealand Press Association)

HASTINGS, March 27.

New Zealand Breweries, Ltd., will acquire a half interest in Leopard Brewery Ltd., Hastings, from Malayan Breweries, Ltd., Singapore.

Mr W. A. Whitlock, of Hastings, chairman of directors of Leopard Brewery, Ltd., said today such a step had become desirable with the increasing pressure the Government was building up to ensure New Zealand participation in overseasowned industry.

A cogent factor here had been the recent fiscal legislation imposing heavy additional tax burdens on overseasowned companies. Additionally, the decisions of the Licensing Control Commission meant that in the area served by Leopard and Gold Top Breweries an expenditure on hotel buildings and renovation of more than £1,000,000 would be involved without any likelihood of increased turn-over. Increased rationalisation and an increase in productivity was the only economic method of shouldering the burdens, said Mr Whitlock. Mr Whitlock said that the merger, which would become effective in April, meant that at least 12,000 New Zealand shareholders would participate in the Leopard venture. Other Supply It would also lead progressively to the discontinuance of brewing by New Zealand Breweries in Gisborne at the

Gold Top brewery and the supplying of that territory from Hastings by Leopard. Mr E. T. Chrisp, of Gisborne, a director of New Zealand Breweries and the manager of the Gold Top brewery in Gisborne, said in Gisborne that for some time his company had been concerned about the condition of the Gold Top brewery premises, and rebuilding would have involved considerable interruption of production. Staff at the Gold Top brewery would be offered suitable employment at the Leopard Brewery, Hastings, or at a bulk distribution depot to be established in Gisborne, or elsewhere, and the superannuation rights of all staff involved would be protected, said Mr Crisp. Autonomous Company Mr Whitlock said Leopard Brewery would continue to operate as a fully autonomous company, and Messrs Heinekens, of Holland, would continue to act as technical advisers. AU existing brands would be maintained and a programme to expand the capacity of Leopard Brewery had been planned. As a result, Leopard products would be available in many more outlets than before.

The present board of Leopard Brewery, Messrs Whitlock, J. H. Mason and C. S. Hogg would be augmented by Messrs Chrisp, R. P. Thomp-

son, Christchurch, and G. C. Reid, Wellington. The present general manager, Mr J. Macfariane, has been appointed managing director