N.Z.B. buys S.L firms

Press, Volume CX, Issue 32457, 18 November 1970, Page 1

N.Z.B. buys S.L firms

(tiew Zealand Press Association) DUNEDIN, November 17. New Zealand Breweries, Ltd, today embarked on a new South Island expansion programme with the announcement of take-over proposals for two major Dunedin-based wholesale liquor and hotel-owning companies.

The two companies' concerned are R. Powley! and Company, Ltd, and F. Meenan and Company, Ltd, which both own hotels throughout Otago and Southland. Powleys also control much of the manufacture of aerated

waters in Otago and Southland. and both companies are considered key businesses in the southern liquor industry. Powleys is also in Wellington and Christchurch. i ? Meenan’s business is based on a wholsesale licence in Dunedin but the company also owns hotels in Dunedin, MosgieL Bluff and at Lomeville, near Invercargill. Today’s announcement by New Zealand Breweries follows recent acquisitions of hotel and wholesale licences in the south by Dominion Breweries, Ltd. Major Plant The chairman of New Zealand Breweries (Sir Clifford Plimmer) made the announcement of his company’s takeovers at the official opening yesterday of the new s3m bottling plant which has been built in Dunedin. He did not reveal financial details of the take-overs but said that the directors of Powleys, which is a public company, had recommended the acceptance of the New Zealand Breweries offer to shareholders. The proprietors, of Meenan’s, a private company, Messrs Daniel and Herman Eckhoff, had agreed to sell a major part of their hotel and wine and spirit business to New Zealand Breweries. The terms of the offer in respect of R. Powley and Company will be sent to Powley shareholders early in December.