OIO approval North Island assets received

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







NZX: SML
ASX: SM1


23 October 2025

Abbott receives OIO approval for acquisition of Synlait’s North Island assets

Synlait Milk Limited (Synlait) advises that the Overseas Investment Office (OIO) has granted global healthcare
leader, Abbott consent under the Overseas Investment Act 2005 to acquire the company’s North Island
assets.

Synlait announced the conditional sale last month. The North Island assets include the Pōkeno manufacturing
facility, along with the company’s Auckland sites (assets held at the blending and canning facility on Richard
Pearse Drive and the warehouse facility on Jerry Green Street), and associated inventory and leasehold
arrangements.

The sale price totals US$178 million (NZ$307 million), with targeted completion on 1 April 2026.

The sale remains conditional on Synlait obtaining customary consents and shareholder approval.
Synlait’s majority shareholder, Bright Dairy Holding Limited owns 65.25% of the company, and has
confirmed that it has received Bright’s vote in favour of the transaction ahead of Synlait’s annual
meeting on Friday 21 November 2025.

For more information contact
Media
Jo Scott
Corporate Affairs Manager
P: +64 21 883 123
E: jo.scott@synlait.com

Investors
Hannah Lynch
Head of Milk Supply, Strategy & Corporate Affairs
P: +64 021 252 8990
E: hannah.lynch@synlait.com