Synlait completes Talbot Forest Cheese Acquisition

Synlait Milk Ltd · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com

SYNLAIT MILK LIMITED ANNOUNCEMENT NZX: SML
ASX: SM1
01 August 2019

SYNLAIT COMPLETES TALBOT
FOREST CHEESE ACQUISITION
Synlait (NZX: SML; ASX: SM1) today announced it has completed the acquisition of selected Talbot Forest
Cheese assets. The acquisition includes the property, plant and equipment of the Temuka site, along with
the consumer cheese brand (Talbot Forest Cheese). Current customer relationships will continue.
Synlait assumes management and operational control of Talbot Forest Cheese as of today and Talbot
Forest Cheese employees start with Synlait today.
“We’re pleased to finalise this sale process and welcome Talbot Forest Cheese employees into the Synlait
family”, says Leon Clement, CEO.
“The acquisition enables us to manufacture a variety of cheese products. It also helps us optimise our
manufacturing assets (especially during peak seasonal flows), access new profit pools, and align with our
approach to run a high-quality, flexible dairy manufacturing plant that enables us to tailor product to meet
customer needs.”
In June 2019 Synlait appointed Andrew Bull as General Manager Talbot Forest Cheese. Mr Bull says, “Paul
Fitzsimons, founder of Talbot Forest Cheese, and his team have created a legacy that I feel extremely
privileged to be leading. We have talented staff, world class assets and award winning cheeses that provide
a strong foundation for growth in both the speciality and foodservice sectors.”
Mr Bull says Synlait plans to produce around 5,000 tonnes of cheese during the 2019/2020 season.
“Our highly automated plant is capable of manufacturing both dry and brine salted products, including
parmesan, cheddar, gouda and mozzarella for both retail and foodservice customers. In addition, we have
retained the ability to make open vat cheeses such as haloumi and feta, which are extremely popular.”
These products, along with ingredient cheeses made to customer specifications, will be sold to the local
and international wholesale markets.
ENDS

Synlait Milk Ltd · 1028 Heslerton Road, RD13 Rakaia, Canterbury, New Zealand · +643 373 3000 · www.synlait.com

ADDITIONAL INFORMATION
Note: The Geraldine Talbot Forest Cheese artisan factory in Geraldine and the Deli shop is excluded from
the sale agreement. Specialty artisan cheeses will continue to be made there under another label owned by
Paul Fitzsimons and Angela Veale.

Andrew Bull, General Manager, Talbot Forest Cheese
Andrew joined Synlait in June 2019. Since then he has been a key member of the Talbot Forest Cheese
advisory panel. Andrew previously worked for Fonterra where he held a number of technical and leadership
roles across a variety of business units, including leading the turnaround of a manufacturing site. Prior to
Fonterra, Andrew ran his own business delivering project and asset management consultancy services to
industrial clients. He’s worked in a range of industries in New Zealand and offshore.

Andrew holds a Bachelor of Engineering Degree from the University of Canterbury as well as a Graduate
Diploma in Arts (Psychology) from the University of Auckland.

For more information about Synlait visit www.synlait.com
or contact:
Sarah-Jane Bashford
Senior Communications Advisor, Synlait Milk
P: +64 3 373 3320
E: sarah-jane.bashford@synlait.com