The Japanese meat processor expands its global supply chain with an NZ$800m acquisition to bolster overseas protein capacity by 2035.
Japan’s Itoham Yonekyu Holdings has agreed to acquire New Zealand beef supplier Greenlea Group for approximately NZ$800m ($450.8m). The deal, routed through Itoham’s Anzco Foods subsidiary, is pending regulatory approval and expected to close by August 2025.
Greenlea, which operates two Waikato processing plants, reported NZ$615m in revenue and NZ$59m in pre-tax profit for the year ending September 2024. The acquisition aligns with Itoham’s 2035 strategy to strengthen its overseas meat business and global protein supply.
Itoham highlighted New Zealand’s sustainability credentials and its role as the world’s seventh-largest beef exporter. The company aims to leverage Greenlea’s local relationships and production capacity to enhance its supply chain.