CAPITAL STRUCTURE CONSULTATION 2021
A RECAP OF OUR STRATEGY Capital structure helps us execute our strategy successfully over the long- term, so it’s important we’re all clear on where we’re headed as a Co-op before implementing any changes to our structure. Our 2019 refresh considered
what we needed to do to both reset our business and achieve sustainable value over time, by responding to changing consumer, customer and market needs. We made some big decisions about the kind of Co-op we want to be.
Recap of changes made in 2019 strategy refresh
FROM
TO
Volume
Value
Global Milk Pools
Prioritise New Zealand Milk + complementary components
Maximum volume into consumer
Focus on key categories to deliver superior value
Dairy only
Supplement with non-dairy where makes sense
Partner with cash investments
Partner with IP and skills and lift R&D
Debt funded growth
Conservative balance sheet
Global giant with HQ in New Zealand
Celebrate Aotearoa New Zealand and take it to the world
Divest non-core businesses and focus where we have a competitive advantage
Invest widely based on aggressive growth plans
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