NZME Limited (NZX and ASX: NZME), a prominent New Zealand media and entertainment company providing news, radio, and digital content, has announced a significant acquisition to enhance its print operations. The company revealed it has finalised an agreement to acquire the print plant equipment from Stuff’s current Petone facility. This strategic move is intended to further extend and enhance the profitability of NZME’s ongoing print activities.
NZME will take ownership of the Petone equipment, with removal from the site later this year. The total investment, including relocation, installation, and commissioning, is projected at up to $15 million over two years, with cashflow payback expected within three years. The acquired equipment, about a third the size of NZME’s existing plant, operates more efficiently and is anticipated to deliver annual operating savings of around $7 million once installed, subject to print volumes. This also enables NZME to offer additional third-party print options across the North Island.
NZME Chief Executive Officer Michael Boggs stated the acquisition would help “right size NZME’s production capacity, ensuring its future sustainability.” He highlighted print’s importance for New Zealanders to consume news and connect with communities, noting the company’s investment ensures this continues alongside digital platforms. Matt Wilson, NZME Chief Publishing Officer, added the Petone equipment is “more modern, well maintained and right-sized,” offering opportunities to improve productivity, reduce wastage, and establish a printing platform aligned with their business.
NZME’s current Ellerslie lease supports printing until late 2028. The Petone equipment will be installed at a new facility via a managed transition, ensuring continuous customer service. The company commits to carrying its strong record of reliability and print quality into the new facility seamlessly. Further details on this investment are expected at NZME’s Half Year Results later this month.
