New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<h2>Freightways<br>Small, Complimentary and Value Accretive Acquisition</h2>
<p>Freightways (FRE) will acquire ProducePronto for NZ$10m effective 1 November 2021 on a 6x historic EBITDA multiple. ProducePronto provides same-day,&nbsp;ambient-fresh-frozen delivery services to convenience outlets nationally. In FY21 it generated NZ$16m of revenue with a 10% EBITDA margin. Its biggest customer is BP and has recently signed up Z. In typical FRE fashion there is a NZ$4m capped earn-out over three years.</p>
<p>ProducePronto is complimentary to Big Chill (acquired in early 2020), which&nbsp;should&nbsp;allow for modest synergy realisation principally in product storage and line-haul.</p>
<p>The deal represents another example of FRE’s disciplined approach to M&amp;A, which remains a key strategic growth driver.</p>

Freightways Small, Complimentary and Value Accretive Acquisition
Freightways (FRE) will acquire ProducePronto for NZ$10m effective 1 November 2021 on a 6x historic EBITDA multiple. ProducePronto provides same-day,&nbsp;ambient-fresh-frozen delivery services to convenience outlets nationally. In FY21 it generated NZ$16m of revenue with a 10% EBITDA margin. Its biggest customer is BP and has recently signed up Z. In typical FRE fashion there is a NZ$4m capped earn-out over three years.
ProducePronto is complimentary to Big Chill (acquired in early 2020), which&nbsp;should&nbsp;allow for modest synergy realisation principally in product storage and line-haul.
The deal represents another example of FRE’s disciplined approach to M&amp;A, which remains a key strategic growth driver.

Freightways: Small, Complimentary and Value Accretive Acquisition

Freightways Ltd

Freightways: Small, Complimentary and Value Accretive Acquisition