Christchurch Yarns NZ Limited sold to NZ Yarn Limited

NZ Yarn

Ocean Partners was lead advisor on the successful divestment of Christchurch Yarns NZ Limited to NZ Yarns Limited and the subsequent capital raising by NZ Yarn Limited to raise capitral from wool growers and industry players to fund the acquisition.

Christchurch Yarns NZ Limited was the last remaining independently owned wool spinning business in the southern hemisphere and it was considered 'imperative' that these assets remained in local ownership and operational.    

NZ Yarn Limited was established by the Primary Wool Co-Operative, with the driver then being taken over by Elders Primary Wool, a joint venture between Primary Wool Co-Operative and the Carr Group from Ashburton.