Sydney, Australia
March 19, 2003
Yates Ltd announced on 14
March 2003 its proposed divestment of Yates Vegetable Seeds.
Yates Vegetable Seeds has had a sales turnover of $AUD19.6m
in the financial year ending 30 June 2002 and $AUD10.1m in the
six months ending 31 December 2002. The business operates
primarily in Australia and New Zealand and distributes
commercial vegetable seeds from its own breeding programs and as
a wholesale distributor on behalf of other seed companies.
Yates Ltd is proceeding with this divestment to focus on the
consumer lawn and garden business which it operates in Australia
and New Zealand.
To assist with the sale process Yates Ltd have appointed
AgriCapital Corporation, a New York based Investment Bank. All
enquiries should be directed to R B Halaby, Chairman AgriCapital
Corporation.
About Yates
Yates is the leading consumer gardening and commercial
horticultural branded goods company in Australia and New
Zealand. It markets and distributes a range of branded
horticultural products through its Yates Consumer and Yates
Commercial divisions. Established in 1883, Yates has one of the
most highly recognised brands in Australia and is a respected
leader in both the Australian and New Zealand gardening and
horticultural markets. Yates’s headquarters are in Sydney and it
has operations throughout Australasia.
AgriCapital Corporation was founded in 1983 as a
specialized firm to meet the acute and increasingly specialized
investment banking demands of a rapidly changing agribusiness
industry. Since AgriCapital’s founding, it has undertaken some
400 assignments, including negotiating mergers and acquisitions,
arranging financings, and providing consulting services, on
behalf of over 300 large and small companies across the spectrum
of agribusiness in the United States and around the world.
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